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Yes the debt matters, but compared to other factors in a nation with its own currency, it's quite insignificant. My point is other people are acting like its do

Yes the debt matters, but compared to other factors in a nation with its own currency, it's quite insignificant. My point is other people are acting like its doomsday if the debt goes too high but I don't think it's that big of a deal in the grand scheme of things.

panick21_ 2y ago
You are spending literally a whole US military budget worth of money EVERY YEAR on just debt servicing. And that is gone go up by a lot more in the next 20 years if nothing fundamental changes. And if you actually look at your discretionary budget, that discretionary will be continually under pressure. And having your own currency isn't magic. All it allows you do, is use inflation to take money from your citizens without having to get something threw parliament. The US has had a history of extremely fiscally conservative governments. After each major war they instantly reduced debt again. So Americans somehow think this isn't a problem, because in US history it has never been much of a problem. But for the last 40 the US political environment has changed and now the opposite is true, neither party is interested at all in reducing the debt. The reality will catch up with the US as it has with 100s of other nations over the last couple 100 years of history. > compared to other factors The things you call 'other' aren't that 'other'. They are linked to money and money is linked to debt. Getting educated people isn't free. You have to spend money, from pre-school all the way to university. Companies need infrastructure. Infrastructure cost money. How much you can invest depends on debt. And that political stability depends people getting basic needs met. You act like debt was some separate problem that has little impact on anything else, but this historically just isn't the case. > people are acting like its doomsday No people are not acting like its 'doomsday', they are simply pointing out some basic realities about the topic and saying 'this is a problem we need to actually take seriously'.

panick21_ 2y ago

You are spending literally a whole US military budget worth of money EVERY YEAR on just debt servicing. And that is gone go up by a lot more in the next 20 years if nothing fundamental changes. And if you actually look at your discretionary budget, that discretionary will be continually under pressure. And having your own currency isn't magic. All it allows you do, is use inflation to take money from your citizens without having to get something threw parliament. The US has had a history of extremely fiscally conservative governments. After each major war they instantly reduced debt again. So Americans somehow think this isn't a problem, because in US history it has never been much of a problem. But for the last 40 the US political environment has changed and now the opposite is true, neither party is interested at all in reducing the debt. The reality will catch up with the US as it has with 100s of other nations over the last couple 100 years of history. > compared to other factors The things you call 'other' aren't that 'other'. They are linked to money and money is linked to debt. Getting educated people isn't free. You have to spend money, from pre-school all the way to university. Companies need infrastructure. Infrastructure cost money. How much you can invest depends on debt. And that political stability depends people getting basic needs met. You act like debt was some separate problem that has little impact on anything else, but this historically just isn't the case. > people are acting like its doomsday No people are not acting like its 'doomsday', they are simply pointing out some basic realities about the topic and saying 'this is a problem we need to actually take seriously'.