Why are conservatives so dishonest about the national debt?
Thursday, June 23rd, 2011Matthew D asked:
Conservatives tout that the US national debt is an emerging crisis that will soon bankrupt the United States. What they don’t say is that a little less than half is intragovernmental debt. That is, money the US government owes itself. After WWII the US owed 120% of its GDP in public debt. At this time it only owes about 84% and that figure includes the money the government owes itself. Public debt, what money the govermenet owes others, is about 60% of GDP or half the GDP to debt ratio after WWII.
Why do conservatives try to scare people about a problem that does not exist?
Conservatives tout that the US national debt is an emerging crisis that will soon bankrupt the United States. What they don’t say is that a little less than half is intragovernmental debt. That is, money the US government owes itself. After WWII the US owed 120% of its GDP in public debt. At this time it only owes about 84% and that figure includes the money the government owes itself. Public debt, what money the govermenet owes others, is about 60% of GDP or half the GDP to debt ratio after WWII.
Why do conservatives try to scare people about a problem that does not exist?