3 ms·
Increase that interest rate just 1% to 2.5%. Then the interest payments are the same number as the over-bloated defense budget: 750 billion a year. So, the ol
by simonblack 5y ago
Increase that interest rate just 1% to 2.5%.
Then the interest payments are the same number as the over-bloated defense budget: 750 billion a year.
So, the old question: Guns? Or butter?
An aside:
In my lifetime, the highest interest rate was roughly 20%. That would cause monetary collapse in the US today with an interest load of 6 trillion bucks a year.
- notch656a 5y agoI'm with you that debt could become a liability and it would be wise to balance the budget. On the other hand, ye old money printer can always just buy it out :/
- simonblack 5y agoOn the other hand, ye old money printer can always just buy it out :/ Tell that to the folks in Zimbabwe. :D