Caught In A Debt Trap

[This author considers Public and Private Debt as equivalent – I DON’T! Private debt intends to create a good or service with more value than the debt incurred, while Public debt intends (though never said this way) to create a political good or service with less value than the debt it is created from. While sometimes – as with the Interstate Highway System –  the public debt can give something of value, most often the value is tiny or even negative. Ignore for a moment that Public and Private Debt inherrently are different, and the following can give reasonable insights.  –Bob ]
By John Mauldin – Re-Blogged From Silver Phoenix

We’re caught in a trap

I can’t walk out Because I love you too much baby

Elvis Presley’s rendition of Suspicious Minds topped the record charts in 1969. The lyrics portray a romance that couldn’t work, but was also impossible to escape. That’s also a good way to describe our relationship with government debt. We know it can’t last, but we can’t walk out. We love government spending and its benefits (like Medicare, Social Security, and unemployment insurance) too much.

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