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It’s sad seeing people actually disagreeing with you. The US government is $21tn in debt. 21 trillion. With a constant budget deficit. No private entity would

• SilasX 8y ago
  >It’s sad seeing people actually disagreeing with you. It's because of a high-status meme that's gone around that "Governments Aren't Households" followed by a pedantic lecture about a few dimensions where they have interesting, but not fundamental differences. And it's true: reliable, trusted governments e.g. suffer lower costs from going into debt, and are able to recapture some of the expenses. Plus, they can default in a way that's technically legal (inflate away the debt). But none of that changes the more important, relevant similarities: - There are limits to how quickly you can accumulate real resources to pay off debts. - There are severe consequences to being unable to pay debts. - There are debt levels that are dangerous to have and which prevent you from raising funds for real emergencies. All of these are true and relevant for both governments and households. Yes, you can debate how close you are to the breaking point, but you can't simply avoid the comparison entirely just because Governments Aren't Households.
• sgjohnson 8y ago
  >Plus, they can default in a way that's technically legal (inflate away the debt). Oh yes, along with my purchasing power. Amazing.