3 ms·

Except the government massively expands it's own debt ... constantly. I mean, here is an article with a lot of figures: https://www.thebalance.com/us-debt-by-p

Except the government massively expands it's own debt ... constantly. I mean, here is an article with a lot of figures: https://www.thebalance.com/us-debt-by-president-by-dollar-and-percent-3306296 https://www.thebalance.com/us-debt-by-president-by-dollar-an... Good times or bad, times of plenty, times of hardship, war or peace, ... government goes deeper in debt. When there is a tiny bit of debt relief, it's ... essentially accidental ... (nevertheless great respect for Bill Clinton, who proposed the budget made it happen, however it was not his intention. He could have spent the money though, and he didn't. Which is more than can be said of many others. On net however, Bill Clinton was like every other president: the government spent way more than it brought in)

arcticbull 8y ago
Thing is it seems like it doesn’t matter. The government isn’t required to balance is checkbooks at the end of the year and is in control of the money supply. Government debt isn’t really slavery as they have many more options. The US has actually defaulted on its debt obligations 6 times [1,2,3,4] so far, most recently in 1979 [1]. Seems like so long as it doesn’t happen too often, it might be a non-issue, I’m not sure what to make of it personally. [1] https://www.theatlantic.com/amp/article/267205/ https://www.theatlantic.com/amp/article/267205/ [2] https://www.google.com/amp/s/www.cnbc.com/amp/id/43140915 https://www.google.com/amp/s/www.cnbc.com/amp/id/43140915 [3] https://mises.org/library/short-history-us-credit-defaults https://mises.org/library/short-history-us-credit-defaults [4] https://en.m.wikipedia.org/wiki/List_of_sovereign_debt_crises https://en.m.wikipedia.org/wiki/List_of_sovereign_debt_crise...