{"id":32206,"date":"2013-01-15T07:23:15","date_gmt":"2013-01-15T14:23:15","guid":{"rendered":"http:\/\/hill-kleerup.org\/blog\/2013\/01\/15\/public-debt-is-not-credit-card-debt.html"},"modified":"2013-01-15T07:23:15","modified_gmt":"2013-01-15T14:23:15","slug":"public-debt-is-not-credit-card-debt","status":"publish","type":"post","link":"https:\/\/hill-kleerup.org\/blog\/2013\/01\/15\/public-debt-is-not-credit-card-debt.html","title":{"rendered":"Public Debt Is Not Credit Card Debt"},"content":{"rendered":"<p>Paying off our debt is easily done, if\/when\u00a0the economy pulls out of the tank. \u00a0Want to know what impacts our credit (and, thus, our ability to recover)? Not being able to pay our debt. Want to know the biggest threat right now to not paying our debt? <i>Republicans saying they&#39;re going to not let the government pay our debt.<\/i><\/p>\n<p>(h\/t <span class=\"proflinkWrapper\"><span class=\"proflinkPrefix\">+<\/span><a href=\"https:\/\/plus.google.com\/104810568712102362000\" class=\"proflink\" oid=\"104810568712102362000\">Roger Burgess<\/a><\/span>)<\/p>\n<p style='clear:both;'>\n<p style='margin-bottom:5px;'><strong>Embedded Link<\/strong><\/p>\n<div style='height:120px;width:120px;overflow:hidden;float:left;margin-top:0px;padding-top:0px;margin-right:10px;vertical-align:top;text-align:center;clear:both;'>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<img style='max-width:none;' src='https:\/\/images1-focus-opensocial.googleusercontent.com\/gadgets\/proxy?url=http:\/\/blogs.reuters.com\/great-debate\/\/files\/2013\/01\/or_426_credit-card-best.jpg&#038;container=focus&#038;gadget=a&#038;rewriteMime=image\/*&#038;refresh=31536000&#038;resize_h=150&#038;resize_w=150&#038;no_expand=1' border='0' \/>\n\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t<a href='http:\/\/blogs.reuters.com\/great-debate\/2013\/01\/14\/why-public-debt-is-not-like-credit-card-debt\/'>Why public debt is not like credit card debt<\/a><br \/>\n\t\t\t\t\t\t\t\t\t\t\t\tThe idea that the debt inflicts a burden on our grandchildren and depresses their standard of living has it backward. What is destroying their prospects is our failure to generate a recovery with dece&#8230;\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<p style='clear:both;'> <strong>Google+:<\/strong> <a href='https:\/\/plus.google.com\/101083456815352083930\/posts\/cTA7jZeKXnT' target='_new'>View post on Google+<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Paying off our debt is easily done, if\/when\u00a0the economy pulls out of the tank. \u00a0Want to know what impacts our credit (and, thus, our ability to recover)? Not being able to pay our debt. Want to know the biggest threat right now to not paying our debt? Republicans saying they&#39;re going to not let the &hellip; <a href=\"https:\/\/hill-kleerup.org\/blog\/2013\/01\/15\/public-debt-is-not-credit-card-debt.html\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Public Debt Is Not Credit Card Debt&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[106],"tags":[],"class_list":["post-32206","post","type-post","status-publish","format-standard","hentry","category-plusposts"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":32202,"url":"https:\/\/hill-kleerup.org\/blog\/2013\/01\/14\/paying-our-debts.html","url_meta":{"origin":32206,"position":0},"title":"Paying our debts","author":"***Dave","date":"Mon 14-Jan-13 8:28pm","format":false,"excerpt":"Tell me again why the GOP thinks they can negotiate \"substantial spending and entitlement cuts\" in exchange for a debt ceiling raise? \u00a0_Congress already approved the spending of that money._ \u00a0If they want to cut spending and entitlements, then do so in a straightforward fashion, not by demanding give-backs.It's like\u2026","rel":"","context":"In &quot;~PlusPosts&quot;","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32045,"url":"https:\/\/hill-kleerup.org\/blog\/2013\/01\/03\/the-debt-limit-negotiations-arent-negotiations.html","url_meta":{"origin":32206,"position":1},"title":"The Debt Limit negotiations &#8230; aren&#39;t negotiations","author":"***Dave","date":"Thu 3-Jan-13 11:07pm","format":false,"excerpt":"As Greg Sargent explains, the GOP already admits that not raising the debt limit -- which allows the government to pay the bills Congress has already authorized -- that the country will be seriously damaged financially and see its credit rating dropped (again).So if they recognize that -- on what\u2026","rel":"","context":"In &quot;~PlusPosts&quot;","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":31968,"url":"https:\/\/hill-kleerup.org\/blog\/2012\/12\/30\/lindsay-graham-swears-to-hide-the-check-book-until-he-gets-his-way.html","url_meta":{"origin":32206,"position":2},"title":"Lindsay Graham swears to hide the check book until he gets his way","author":"***Dave","date":"Sun 30-Dec-12 2:54pm","format":false,"excerpt":"Once upon a time, the debt ceiling was a book-keeping measure alone. The law limits how much the federal government can actually spend to meet obligations already authorized by Congress. \u00a0Yes, read that again. This is not about going on a spending spree, but about paying the bills. \u00a0But the\u2026","rel":"","context":"In &quot;~PlusPosts&quot;","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39000,"url":"https:\/\/hill-kleerup.org\/blog\/2013\/10\/03\/its-not-crashing-through-the-guard-rail-that-kills-you.html","url_meta":{"origin":32206,"position":3},"title":"It&#39;s not crashing through the guard rail that kills you","author":"***Dave","date":"Thu 3-Oct-13 11:22am","format":false,"excerpt":".... it's hitting the ground below.Which is another way to say that the government shutdown (no, Fox, not \"slimdown\") is, in fact, bad, but playing chicken with the debt limit is the point where the Coyote (or the US, or the World Economy) goes \"boom\" in a cloud of dust.The\u2026","rel":"","context":"In &quot;~PlusPosts&quot;","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39215,"url":"https:\/\/hill-kleerup.org\/blog\/2013\/10\/16\/the-easy-way-to-avoid-the-default.html","url_meta":{"origin":32206,"position":4},"title":"The &quot;easy&quot; way to avoid the &quot;default&quot;","author":"***Dave","date":"Wed 16-Oct-13 9:31am","format":false,"excerpt":"It's simple. If you consider \"default\" to be \"not servicing our debt,\" then we can simply avoid it by ... well, massively cutting other spending. \u00a0Like Social Security checks.But, of course, that's the president's decision (we're told). So it will be Obama's choice to either \"default\" (which Mr Will seems\u2026","rel":"","context":"In &quot;~PlusPosts&quot;","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30098,"url":"https:\/\/hill-kleerup.org\/blog\/2012\/09\/05\/debt-debtor-debtest.html","url_meta":{"origin":32206,"position":5},"title":"Debt, debtor, debtest","author":"***Dave","date":"Wed 5-Sep-12 7:20pm","format":false,"excerpt":"Nothing new and exciting here, but evidently it keeps having to be said, since the \"Obama's thrown this country wildly into debt\" meme keeps popping up.That Paul Ryan voted for all of those Bush-era measures keeps getting lost in the noise. That nothing has happened, spending-wise, during the Obama Administation\u2026","rel":"","context":"In &quot;~PlusPosts&quot;","block_context":{"text":"~PlusPosts","link":"https:\/\/hill-kleerup.org\/blog\/category\/blogging\/plusposts"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/32206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/comments?post=32206"}],"version-history":[{"count":0,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/posts\/32206\/revisions"}],"wp:attachment":[{"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/media?parent=32206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/categories?post=32206"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hill-kleerup.org\/blog\/wp-json\/wp\/v2\/tags?post=32206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}