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I know most of the revenue goes into interest payments. The solution to that is not to borrow more at lower interest and waste on profligate projects which won'
by sifar 7y ago
I know most of the revenue goes into interest payments. The solution to that is not to borrow more at lower interest and waste on profligate projects which won't generate revenue.
- sbmthakur 7y agoWe cannot exactly determine in advance if a project is going to be a waste. The Government has to get more money in one or the other for purchasing weapons, infrastructure building and financing social schemes. One way is to increase taxes which we all hate, the other way is to borrow. So, why not borrow at low interests?
- sifar 7y ago>> We cannot exactly determine in advance if a project is going to be a waste. Really ? Please stop the doublespeak. Purchasing weapons, social schemes (read subsidies/guaranteed income), mega infrastructure projects are all wasteful. Borrowed money when not invested in revenue generation is an extra tax on future generations.
- sbmthakur 7y agoObviously, those things will not bring in revenue and they are wasteful from that perspective. But they are still required for national security, upliftment of poor and to facilitate people of the country. > Borrowed money when not invested in revenue generation is an extra tax on future generations. That's true. But Government isn't a business, they've to finance a plethora of things.