# Printing money won't last long. How do we get rid of debt? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [May 24, 2013, 12:24am UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180 "2013-05-24T00:24:39Z")\ **Posts on this page:** 7\ **Page:** 3
**Author:** ![msmith537](https://avatars.discourse-cdn.com/v4/letter/m/d9b06d/32.png) [@msmith537](https://boards.straightdope.com/u/msmith537)\ **Post date:** [May 31, 2013, 1:51pm UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/41 "2013-05-31T13:51:42Z")
> [@Doggo](#): > > I’d agree if foodstamps were only used for food, but as with any government programme, it’s been subverted so lots of other things can be purchased that have nothing to do with nutrition. Oh God forbid.:rolleyes: Reminds me when Craig T Nelson said “I’ve been on food stamps and welfare, did anyone help me out? No!” on the Glenn Beck show. ---
**Author:** ![Learjeff](https://avatars.discourse-cdn.com/v4/letter/l/94ad74/32.png) [@Learjeff](https://boards.straightdope.com/u/Learjeff)\ **Post date:** [May 31, 2013, 2:22pm UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/42 "2013-05-31T14:22:02Z")
The amount of debt is troubling but not disastrous. However, we currently have the benefit of very low interest rates. I remember when, during the 80’s, due to high interest rates nearly a third of IRS revenues went to servicing debt. Pray the low interest rates continue! But, like **beowulf** I worry more about underfunded obligations. ---
**Author:** ![Justin\_Bailey](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/justin_bailey/32/8792_2.png) [@Justin\_Bailey](https://boards.straightdope.com/u/Justin_Bailey)\ **Post date:** [May 31, 2013, 3:20pm UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/43 "2013-05-31T15:20:43Z")
> [@msmith537](#): > > Reminds me when Craig T Nelson said “I’ve been on food stamps and welfare, did anyone help me out? No!” on the Glenn Beck show. :eek: I knew he was a bit conservative, but my opinion of Craig T. Nelson just _plummeted_. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [May 31, 2013, 4:35pm UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/44 "2013-05-31T16:35:07Z")
> [@Shodan](#): > > “…You could print your own money, take money away from other people at will, and if you were more interested in getting re-elected than being responsible.” > > Regards, > Shodan In other words, if you are a CEO of a major corporation. Except those guys don’t have to worry about being re-elected. And if their Board members lose, they just accept their resignations and then reappoint them to the vacancy. And then have them vote the CEO a bigger raise. ---
**Author:** ![Leaper](https://avatars.discourse-cdn.com/v4/letter/l/4bbf92/32.png) [@Leaper](https://boards.straightdope.com/u/Leaper)\ **Post date:** [May 31, 2013, 6:20pm UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/45 "2013-05-31T18:20:51Z")
> [@Shodan](#): > > “…You could print your own money, take money away from other people at will, and if you were more interested in getting re-elected than being responsible.” So do you think the government budget should be run like a household budget? DO you believe that zero debts and balanced budgets are always a good thing? If not, under what circumstances is it bad? Or are you disagreeing with basic monetary and taxation policy? I’m just not sure what you’re saying here. ---
**Author:** ![septimus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/septimus/32/410_2.png) [@septimus](https://boards.straightdope.com/u/septimus)\ **Post date:** [June 1, 2013, 8:40am UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/46 "2013-06-01T08:40:31Z")
Rather than inventing Magic Space Doubloons, I think a good way to put numbers in perspective is to make them per person, or per household. U.S. Federal debt held by public works out to an average $38,000 per American. This may seem high, but is actually less than individual debts (mortgage, student loans, credit card and auto debt) averaged per person. Fully understanding such matters may be difficult even for professional economists. Spending an hour reading Paul Krugman’s column at [nytimes.com](http://nytimes.com) will teach you more than reading for twenty hours at SDMB … or reading for twenty centuries on the right-wing Interwebbies. Reagan and Dubya rang up trillions in debt **deliberately as part of their _Starve the Beast_ strategy.** Yet the Idiocracy makes it seem that Democrats are the irresponsible ones. :smack: I’d recommend that the layman focus on such peculiar politics, rather than wondering whether U.S. debt is more or less than 90% of U.S. GDP. The very same hypocrites shrieking that there’s no money to educate or even feed poor children are driving Ferraris and taking first-class vacations. > [@itsharkley](#): > > … Taxes can’t go higher… Oh my. ---
**Author:** ![RickJay](https://avatars.discourse-cdn.com/v4/letter/r/bb73d2/32.png) [@RickJay](https://boards.straightdope.com/u/RickJay)\ **Post date:** [June 1, 2013, 2:26pm UTC](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180/47 "2013-06-01T14:26:32Z")
> [@itsharkley](#): > > How do we get rid of the debt? Taxes can’t go higher. Why not? [Previous page](https://boards.straightdope.com/t/printing-money-wont-last-long-how-do-we-get-rid-of-debt/659180.md?page=2)