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There's a strong case to be made that, given our position as the world's reserve currency (without any clear challenger) and our dirt-cheap borrowing costs, the
by ryanwaggoner 6y ago
There's a strong case to be made that, given our position as the world's reserve currency (without any clear challenger) and our dirt-cheap borrowing costs, the national debt is pretty close to free money. It's not like we're ever going to roll up our sleeves and pay it off, or even down. We'll just inflate it away. I'm not arguing for unrestricted spending, but a couple trillion to avoid economic collapse, borrowed at effectively 0% interest, seems like a deal worth taking.
- _curious_ 6y agoThe issue with this line of thinking is that it doesn't end...until it does. Neither you nor I will likely be alive, but our children may very well be :/
- ryanwaggoner 6y agoI'm not arguing for unrestricted spending, but a couple trillion to avoid economic collapse, borrowed at effectively 0% interest, seems like a deal worth taking. Would it be better to let the city burn down today because we're worried about a water shortage in 100 years?
- deleted 6y ago[deleted]
- raviolo 6y agoWhy do we pay taxes then if the government can just borrow that money?
- freeone3000 6y agoTaxes are significantly lower than government spending and have been for decades. This is a good question.