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Their governor looks like Michael Scott. I've never understood why governments go into debt. It's just stupid.
by danschumann 9y ago
Their governor looks like Michael Scott. I've never understood why governments go into debt. It's just stupid.
- setrofim_ 9y agoIt's misalignment of incentives rather than stupidity (well, in some cases, maybe also stupidity). Governments make decisions from one election cycle to the next. So taking on debt that will be some future administration's problem in order to finance public projects now, and increase the current administration's popularity makes perfect sense.