http://www.treasurydirect.gov/govt/reports/pd/mspd/mspd.htm This link will take you to a page where you can view data sheets dating from 1953 to 2011 showing the public debt in detail. I encourage everyone to read the data sheets so you can form your own opinion without the influence of another person or a media outlet.
Granny says, "Seems like the plan is to get us more in debt... Obama Has Now Increased Debt More than All Presidents from George Washington Through George H.W. Bush Combined October 5, 2011 - The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30. See also: GOP worries they’ll have to accept massive spending measure 10/05/11 - Congress way behind on passing FY12 appropriations bills, lawmakers have 6 weeks to figure out a solution
Taking on debt when interest rates are almost nonexistence is a good thing, not a bad thing. The stupid thing to do is wait until rates are high, then borrow to pay for infrastructure. So of course, that's what conservatives advise.
what you are forgetting is that interest rates have been pushed down by the fed....these are not the natural level of interest rates right now. And once interest rates do rise, get ready for huge interest payment charges!
All the more reason to borrow now. You've unwittingly supported my argument, not yours, even assuming your false premise.
uhmmmm....how is raising interest rates and therefore paying much more for interest on the debt supporting your arguement? Unless you are saying a debt to GDP of 125% is good and when the US can no longer afford paying 1 trillion per anum to service the debt and threatens default is great
Because interest rates are at historical lows now when we should do the borrowing? Is that really so hard to understand?
and when interest rates eventually rise? Its not like the US is ever planning to repay any portion of the existing debt!