Sunday, October 07, 2012

Debt Swap

Dear Mr. President,

Your opponent relentlessly criticizes the public debt and blames it almost solely on you, which is ridiculous but persuades some people. As you've noted before, debt can be good or bad. Good debt can be used by folks to buy a house and invest in education, or for a government to help the economy avoid a great depression, as you demonstrated. As a corporate raider, Romney used debt to to take over companies that were then stripped of assets and jobs to pay huge profits to speculators and make himself a fortune, which he invested largely overseas. Most people would consider that bad debt.

Sincerely,
Your supporter.