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To: Army Air Corps
I listened to my grandparents and great parents talk about the Great Depression - our current troubles do not compare.

I understand that sentiment and know things were bad, but in a lot of ways, things are much, much worse today. In the 30s, there were no built-in, structural government deficits that were driving the country into ruin. We didn't have trillions of debt, even when you inflate 1930s debt to get a true comparison. We now are on a runaway train that no one can stop.

10 posted on 07/02/2014 8:28:15 AM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: Opinionated Blowhard

With respect to overall debt and the ratio of spending to GDP, you are spot on. In that regard we are in much worse shape than in the 1930s.


11 posted on 07/02/2014 8:29:29 AM PDT by Army Air Corps (Four Fried Chickens and a Coke)
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To: Opinionated Blowhard
In the 30s, there were no built-in, structural government deficits that were driving the country into ruin.

On a personal level it is worse too. People had nothing during the depression but Gen Xers are often deep in the hole. The article says, "Generation X’s assets were only double their debts, according to the Pew Charitable Trusts" but I suspect that is WAY off from the reality. I would be surprised if the generation as a whole is even at the break even point. As the article also mentions the Xers were hit HARD by the housing collapse. Many also fell for the trap of borrowing against their home's principle while times were good.

36 posted on 07/02/2014 9:44:47 AM PDT by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: Opinionated Blowhard; Army Air Corps

You left out the legion of voters entitled to massive government handouts. There was a little of that in the Depression, but nothing as big and systemic as there is today.


57 posted on 07/02/2014 10:55:57 AM PDT by FreedomPoster (Islam delenda est)
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