dagblog - Comments for "Peak Debt"

Thanks. A lot of economists

Donal — Mon, 18 Jul 2011 18:31:45 +0000

Thanks. A lot of economists don't seem to see debt as a big deal, either. And when you fund a war or two outside the budget, it is hard to claim that you are serious about debt.

Donal, this is the most

Watt Childress — Mon, 18 Jul 2011 17:34:35 +0000

In reply to Peak Debt

Donal, this is the most interesting post I've read on the debt limit. I tried to comment yesterday, then fumbled my words on the laptop before leaving work.

I don't think mainstream America knows who the "Energy Depletion community" is. The corporate media hasn't broadcast any objection to raising the debt limit from anyone outside the Tea Party/Republican camp. Democrats specifically and liberals as a whole seem to have a drill-baby-drill attitude toward debt. Many believe that debt is an unlimited resource and that the crisis surrounding our dependence on debt is an illusion.

The debt crisis is as real as the energy crisis, in my view, and I'm glad you affirmed that others share this opinion.

I don't think default would

Donal — Sun, 17 Jul 2011 17:40:18 +0000

In reply to Thanks, donal-very

I don't think default would be inconsequential. In the short term we face a lingering recession, and everyone is already playing musical chairs. Depletion and Abundance author Sharon Astyk has a blog bemoaning the cutbacks in the WIC programs, and that Seawater Can Power the World piece warns us not to cut funding for fusion. I think we can get through this, but I think the depletion camp is right about the long term trend.

The GOPer's and tea-bagger

Beetlejuice — Sun, 17 Jul 2011 16:14:49 +0000

In reply to Peak Debt

The GOPer's and tea-bagger have changed the rules.

Instead of supporting what's right for the country, now it's what's right for their political perspective. If you're not with them, then you're against them so you're fair game to stomp on if the chance happens.

They see an opportunity to get their political vengeance on those whom they believe have wronged them over the years. They can't articulate why the debt is so high and who was responsible for running it up. They won't even consider past unfunded spending because it's in the past and their only concern is for the future. It never occurs to them the debt is the Ghost of Unfunded Legislation Past - and they're the Ebenezer Scrooges's of the day.

Thanks, donal-very

AmericanDreamer — Sun, 17 Jul 2011 14:48:33 +0000

In reply to Peak Debt

Thanks, donal-very informative. What is your view on this?