4 ms·

Interest is part of the issue, but $22 trillion is still $22 trillion. And yeah, there's lower interest. But it's still very, very hard to replay. In other wor

by mises 8y ago

Interest is part of the issue, but $22 trillion is still $22 trillion. And yeah, there's lower interest. But it's still very, very hard to replay. In other words, interest comprises a few percent of the debt. The debt itself is a huge issue, too. I'm not being fed anything by anyone. I'm not particularly loyal to either political party. I think both suck. But I also think that's a ridiculous amount of money to have borrowed, and will be very difficult to pay off. And the politicians won't even stop spending.

ajross 8y ago
> Interest is part of the issue, but $22 trillion is still $22 trillion. I'm sorry, but how exactly does your point work, numerically? If I take out a 30 year mortgage on a home with a monthly payment of $1000 and am given the choice of a balance of $100k with an interest rate of X and $200k with an interest rate of Y, why exactly is it not in my interest to take out the bigger loan? What breaks? It sounds like you're making a moral point, not a financial one. And while you claim not to be loyal to either party, you're parroting talking points pushed by only one. I think it's pretty clear who has your ear and counts on your vote, and is probably feeding you stuff to confirm your worldview in other ways.