3 ms·

So you truncate my sentence, call me an idiot and cite nothing to back your assertion?. Oh-Kay buddy. Debt requires a payment to the holder. Regardless of the

• Mikeb85 7y ago
  > That's an interesting assertion and frankly, crazy. That's your quote. If you understood debt even at the level of a freshman in an econ 101 course or hell, if you've ever taken out a loan, you wouldn't have written it. My assertion is as basic as saying the sky is blue. Want a citation for that? Hint. Debt is used to purchase assets. Assets have utility. Depreciation is a thing. If utility is more than the cost of borrowing and depreciation over the timeframe of the loan, it's worthwhile. And that's not even considering that governments can print money, so the consideration isn't can they pay it back, more like what's the cost to pay it back in inflation.
  • mamon 7y ago
    >> Hint. Debt is used to purchase assets. This is true for corporate loans, but in case of federal budget most of the money borrowed are spent on things like healthcare, pensions, food stamps, etc. which aren't exactly profit-bringing assets.
    • Mikeb85 7y ago
      Any money that goes to consumers at least partially is returned in taxes. Infrastructure is a big spending item and again, increases commerce and taxes. Government loans are also special in that money can be printed to repay them.