Another voice repeating our mantra Its the Debt Stupid

 

 

 

 

 

 

 

 

 

 

It’s the debt, stupid.

So says  Brett Arends at market watch in a Sept 12th post entitled Clearing away the debt is the only way forward.

You want to fix this economic crisis? You want to put people back to work? You want to light a fire under the economy?

There’s a way to do it. Fast. And relatively simple.

But you’re not going to like it. You’re not going to like it at all.

Default. A national Chapter 11 bankruptcy.

It’s the debt, stupid.

We’re hocked up to the eyeballs, and then some. We’re at the bottom of a lake of debt, lashed to an anchor. American households today owe $13.3 trillion. That has quadrupled in a generation. It has doubled just in the last 11 years. We owe more than any other nation, ever.

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