Is it immoral to have a national debt?

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  1. peoplepower73 profile image89
    peoplepower73posted 11 years ago
    It seems the right wing is saying that it is immoral to pass on the national debt to our children.  However, this country has had a national debt since its founding.  Every president inherits the national debt of the previous president. Take a look at my chart. Even when Clinton had a budget surplus, he still had a national debt.  If it is immoral to have a national debt, does that mean that our parents were immoral for passing it on to us?  We can only live in the present.  There are too many geopolitical situations that are beyond our control to worry about passing on the national debt to our children and grand children. Look what Sandy is going to do to our national debt  I think this is just a guilt trip that has been perpetrated on the American people.  It is a great form of motivation and fear. 

    Your thoughts, please.

    1. profile image0
      Justsilvieposted 11 years agoin reply to this

      violating moral  principles; not conforming to the patterns of conduct usually accepted or established as consistent with principles of personal and social ethics.
      licentious or lascivious.

      Funny how we can differ when we define Immoral.

      Sending our kids to be used for target practice, while they are using someone elses for the same without a real reason is acceptable, letting our vets. women and children live on the street hungry and homeless is acceptable, resenting help for those who cannot help themselves is acceptable, but asking those who have it all share a bit is immoral..

      My kids having to live by the rules of the morality pushed by the people who hijacked the Republican Party worries me more than leaving them a debt to pay off.

    2. profile image58
      logic,commonsenseposted 11 years agoin reply to this

      Do you think it is moral to pass your failings on to innocents?

  2. peoplepower73 profile image89
    peoplepower73posted 11 years ago

    Sorry, you can't read my chart.  Bushes' debt was approximately 10 trillion.  Obama's will be greater than 16 trillion, Sandy not withstanding.

  3. innersmiff profile image65
    innersmiffposted 11 years ago

    If we accept the principle of self-ownership, that one own's one's self, we have to accept that national debt is immoral. National debt can only occur if we violate the principle of self-ownership because essentially, it's the people who are used as collateral for this debt. We have not agreed to it since we were born into it. It can't have any legitimacy, geo-political factors notwithstanding.

    1. peoplepower73 profile image89
      peoplepower73posted 11 years agoin reply to this

      My father use to say:  "If you don't have the money, don't spend it."  He never owned a credit card. Today, it seems we cannot live without credit.  The national debt is caused because, we spend money we don't have.  We go to war without any funding.  We provide aid to other countries without any funding and we even have a drug prescription program (Medicare part D) which has never been funded.  If we add to that, coming off of the gold standard allowed us to increase the money supply without having anything to back it up.   How are we going to put the genie back in the bottle?

  4. Pearldiver profile image68
    Pearldiverposted 11 years ago

    Hey... Spare a thought for Greece... at least your Bankers got paid their bonuses!  lol

  5. recommend1 profile image61
    recommend1posted 11 years ago

    Don't panic, when the crap is about to hit the fan you can just bail out and leg it another country - you can choose one where your owners have stashed their billions gained from the wars they have caused and sold you the munitions for.

    If you wnat to know when to jump - watch the huge number of Chinese who have defrauded millions in China and then run off to the US with it - we know they are still there because you have refused to deport them - those guys will know when for sure.

  6. Charles James profile image66
    Charles Jamesposted 11 years ago

    The benefit of roads and tunnels and bridges can last for centuries. Schools and hospitals last for generations. A national debt to pay for these is no more immoral than your house mortgage - provided there is a plan to clear the debt.
    Lincoln funded the North's side of the American Civil War by raising taxes, so that the USA was not landed with huge debt. Having wars and tax cuts that are not funded properly is immoral.

  7. tillsontitan profile image82
    tillsontitanposted 11 years ago

    I'm not sure I understand how it can be moral or immoral to have a national debt.  War, tragedy, visitations by natural disasters like Sandy, are never accounted for in a budget.  Not making excuses, but stuff happens. A REASONABLE debt would be nice though.
    Like you my father didn't believe in credit cards, neither does my husband and yet, we survive!


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