Oh well Aiden, then I see, we can borrow an infinite amount of money.
I thought not ever being repaid is the same thing.
Well, lets throw a party.
Of course, so long as it Australian dollars.
We can use that borrowing to buy a few thousand printing machines.
Employ all the unemployed to run them and write a loop for treasuries computer.

Bazz, be serious. I didn't say we should waste any of the money. We shouldn't.
Debt doesn't matter but the deficit does.
Currently the economy is in trouble because the deficit's too small. But a deficit too big is an equally serious problem.

The deficit is the difference between what the U.S. Government takes in from taxes and other revenues, called receipts, and the amount of money it spends, called outlays. The items included in the deficit are considered either on-budget or off-budget.
You can think of the total debt as accumulated deficits plus accumulated off-budget surpluses. The on-budget deficits require the U.S. Treasury to borrow money to raise cash needed to keep the government operating. It borrows the money by selling securities to the public.
The Treasury securities issued to the public and to the Government Trust Funds then become part of the total debt.

The biggest problem is household debt. Our wages are not big enough to cover household debt;
When you have more debt than income you have a problem. If it is going to take 15 months to pay for your debts with 12 months of wages, you have unsustainable debt.
Gimmy more muney now.

doog, did you copy that off an American website?
This thread is about Australia not the US.

Household debt can be a problem, but as long as interest rates remain low, large amounts of it can be sustained. The biggest problem with household debt is the unpredictability of household income.

I there REHCTUB...

I agree with much of what you say there BUTCH on Immigration and Foreign Aid. I stand to be corrected, but I heard the money we give out in Foreign Aid, is money we need to borrow. We actually have to borrow money from some creditor Nation, in order to then give it away to another more indigent Nation. In fact there wouldn't be too many parents who'd do such a thing, even to assist one of their progeny.

Moreover it doesn't make particularly good economic sense to permit more immigrants to come here, unless and until they can fully support themselves, or have a strong potential to support themselves. Neither of these current existing strategies are in anyway assisting in repressing our burgeoning debt, rather it's just adding to it exponentially.