Re: Bernanke warns budget could SERIOUSLY hurt economy
The deficit and national debt issues will eventually come to a head, but I find it quite interesting that so many people outside of the U.S. point at the deficit and national debt as indicators of American fiscal irresponsibility. The U.S. has spent trillions of dollars over the years helping to rebuild other countries, propping up their economies, or more controversially, preventing the spread of economic systems that would undermine the world economy (communism anyone?). It's like borrowers from a bank claiming the bank was irresponsible to lend them money, or that the bank spent money to prevent them from doing something stupid. Should we call in our markers and see who's complaining then?
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald