Blog by Tyler about Life, Daily Issues, Sports and Anything else that catches my eye.
I read an article on The Economist website about the Euro Zone crisis. It basically stated that the economies over there are stagnated because the indebted countries are too worried about “austerity” or paying down their debt.
I’m not sure why, but I found this hilarious. Of course! The solution is so simple, just don’t worry about your debt payments, and spend money on other things to stimulate economic growth.
Of course, the real message was that they are trying to pay down more than is healthy for the shared Euro economies. They aren’t wrong, but I hope certain people in America are paying attention.
Our Debt, in and of itself, isn’t really as big of a deal as many make it out to be. Our Economy is so critical to the rest of the world that if we fail, the Global Economy will likely collapse. It may not always be this way, but right now this is true.
As long as we can continue to make our Debt payments, there is literally nothing to worry about as far as how big our debt actually is. I’m not advocating continuing policies that don’t bother addressing the debt, because it is obviously in our best interests for spending reductions to be implemented.
Just some food for thought.