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Like a credit card, national debt pulls foward spending at the price of paying interest to bankers. Breaking glass windows also increases growth (or GDP) becau
by landemva 3y ago
Like a credit card, national debt pulls foward spending at the price of paying interest to bankers.
Breaking glass windows also increases growth (or GDP) because it forces spending to replace the broken windows. Similar GDP increase when USA builds missiles to blow up bridges (over there somewhere) and later provides funds to US contractors to rebuild those bridges. GDP number go up, along with debt and interest costs.