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> interest on the US debt will soon be over $1 trillion a year And that trillion dollars gets, what, flushed down the toilet? No, it goes into the hands of bon
by feoren 4y ago
> interest on the US debt will soon be over $1 trillion a year
And that trillion dollars gets, what, flushed down the toilet? No, it goes into the hands of bond-holders, who spend it the same way they spend the rest of their money, including on plucking hairs out of mice to study aging. (Obviously I mostly agree with you here, just nitpicking the idea that that trillion dollars is "wasted" somehow.)
- melling 4y agoWell, we either have to raise taxes or keep increasing the debt, paying even more interest. That doesn’t sound like an efficient use of capital.
- feoren 4y ago> That doesn’t sound like an efficient use of capital. It is literally 100% efficient. There is no source of inefficiency. The reason is because that's not where the "use" is. Look for inefficient actual "uses" of government money (there's a lot), and argue against those. Interest is not waste; the capital doesn't go away. It just changes hands.