Mayor Bloomberg and the Infinite amount of money

[MoFinz]

“We are spending money we don’t have,” Mr. Bloomberg explained. “It’s not like your household. In your household, people are saying, ‘Oh, you can’t spend money you don’t have.’ That is true for your household because nobody is going to lend you an infinite amount of money. When it comes to the United States federal government, people do seem willing to lend us an infinite amount of money. … Our debt is so big and so many people own it that it’s preposterous to think that they would stop selling us more. It’s the old story: If you owe the bank $50,000, you got a problem. If you owe the bank $50 million, they got a problem. And that’s a problem for the lenders. They can’t stop lending us more money.”

This man has just handed you the most shining example of our problem anyone ever could. And God help us, we keep putting these mongrels in office.........


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[phins_4_ever]

This man has just handed you the most shining example of our problem anyone ever could. And God help us, we keep putting these mongrels in office.........


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What an absurd statement to make. Bloomberg is basically supporting the philosophy "too big to fail" which brought the US into debt and was the fall out after the 2008/2009 collapse.

[GoFins!]

Bloomberg is basically supporting the philosophy "too big to fail" which brought the US into debt ...

The US was not in debt before the "too big to fail" bailouts?

[NY8123]

Bloomberg can kiss my ass. Being from New York State he and Cuomo think NYS is NYC. I can assure you there are plenty of New Yorkers that would gladly rid our tax system of that sinkhole on the lower Southeast corner of our state.

I'd love any city over 1 million people to become its own district and have to support itself outside of the state. I know my taxes would go down if that was the case. 800M modest what a dumb**** no wonder we can't balance a national check book NYS has a 1 billion deficit 80% of that is NYC.


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[Dolphins9954]

Bloomberg needs to worry about something else to ban.

[phins_4_ever]

The US was not in debt before the "too big to fail" bailouts?

Can you read? I said the philosophy "too big to fail" ......

[GoFins!]

It was the philosophy of "too big to fail" that started our debt problems?