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Unfortunately we are constantly issuing new debt to pay back the old debt because the government spends far beyond its means. So it doesn’t help.
by seibelj 4y ago
Unfortunately we are constantly issuing new debt to pay back the old debt because the government spends far beyond its means. So it doesn’t help.
- dkjaudyeqooe 4y agoTo the contrary, while the US can issue debt and people are willing to buy it it is living within its means.
- seibelj 4y agoOnly a fool thinks the ability to get a loan is equivalent to living within one’s means
- jeffbee 4y agoThe United States is not a person and you can't translate folk economics from your kitchen table to the nation.
- seibelj 4y agoThat's what everyone says until the government defaults on its debt. The US is a special case because of our unique situation as the military superpower and reserve currency, but look at Argentina, Venezuela, and the UK for a counterpoint.
- rwmj 4y agoHow do you imagine the US can default on its debt? It borrows in its own money.
- dkjaudyeqooe 4y agoIf you want to moralise, that's your trip, but borrowing power is an objective measure of your financial health.
- lijogdfljk 4y agoI dunno, if you were willing to issue me unlimited borrowing i'm not sure i would care about repayment. Isn't that exactly the reason repayment matters?