Sunday, January 30, 2011

Quote of the Day: "If you live by debt, you die by debt"

Mark Steyn speaks at CPAC 2008 as Pamela Gella...                        Image via Wikipedia
"At a certain point America has to stop being a country mortgaged to Beijing.  The question is not whether we can afford to pay off the debt, but whether we can even pay the interest.  If you live by debt, you die by debt.  When money drains, power drains." -- Mark Steyn

As usual, Steyn says what we've all been thinking, and says it best.
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Anonymous said...

according to porter stansberry at, if the US govt were to tax every individual 100% of their income it would not be enough to pay the interest without the help of inflationary policies.

Anonymous said...

There is another option for countries in debt that the normal citizen does not have. Devalue the currency. If the US dollar were worth 5 cents the debt would be suddenly manageable again. This is what they are trying to do. All they have to do is convince the world they will keep printing money forever.

"... nothing intellectually compelling or challenging.. bald assertions coupled to superstition... woefully pathetic"