Originally Posted by
grease lightnin
The budget doesn't actually have to be balanced to lower the debt. With the sequster, at current tax rates, and gdp growth rate, the debt level will not go up. With a balanced budget, it would go down. I do not know of a balanced budget on the horizon, but if Washington can agree on a combination of revenue increases and spending cuts, then we could get there. And I believe eventually we will. So many people nowadays just willing to trash their country anf be pessimistic about the future when it is fixable. Sad. Now you answer this: if you are right and I am wrong, then why has gold gone from $1700 to $1200 (near where it was pre-crisis) and not from $1700 to $2000 and up like all that were on the same soapbox as you were saying it was? And don't tell me that it still will, it-s fine if you believe that, but tell me why it has gone down to where it is?