From the Washington Post of 3 Jan 2009 is what happens when government does constant economic stimulus; then economics takes revenge:
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U.S. Debt Expected To Soar This Year
... the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending. ...
But about 40 percent of the debt held by private investors will mature in a year or less, according to Treasury officials. When those loans come due, the Treasury will have to borrow more money to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history. ...
While the current market for Treasurys is booming, it's unclear whether demand for debt can be sustained, said Lou Crandall, chief economist at Wrightson ICAP, which analyzes Treasury financing trends.
"There's a time bomb in there somewhere," Crandall said, "but we don't know exactly where on the calendar it's planted."
The government's hunger for cash began growing exponentially as the nation slipped into recession in the wake of a housing foreclosure crisis a year ago. ...
As of yesterday, the debt stood at nearly $10.7 trillion, of which about $4.3 trillion is owed to other government institutions, such as the Social Security trust fund.
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When the president had intelligence and not a political agenda, then debt was about to be eliminated. Wackos since promoted outright myths to the ignorant such as tax cuts, corporate welfare, and even blames unions. These same anti-Americans also promoted another myth: if it was promoted or created by Clinton, then it must be wrong.
Quote:
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Others say those fears are overblown. The market for U.S. Treasurys is by far the largest and most liquid bond market in the world, and big institutional investors have few other places to safely invest large sums of reserve cash.
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Unfortunately, that same reasoning justified mortgage backed securities, CDOs, massive economic government stimulus, corporate welfare, tax cuts, and even "Mission Accomplished". The resulting costs appeared years later, suddenly, and brutally.
In the next few years, we will learn how much damage a mental midget has done to America - as 1968Nixon did to 1970s America. We have yet to see the real costs of wacko extremist conservatism - what happens when the mental midgets get a president they can relate to.