3 ms·
Looking at the graph it seems pretty clear that spending has out stripped revenues for a really long time. This doesn’t seem like something to be proud of.
by serjester 2y ago
Looking at the graph it seems pretty clear that spending has out stripped revenues for a really long time. This doesn’t seem like something to be proud of.
- nabla9 2y agoGovernment debt is delayed taxation. If you assume that private sector is more productive than public sector, then it makes sens to delay taxation, because GDP growth will be higher. Same tax/GDP share with debt pays you more with the same money. The nominal sum growing means nothing. The thing to watch is debt to gdb ratio and debt service cost to gdp ratio.