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> There's also near zero evidence we actually need a balanced budget for a healthy economy. The alternative is to pay an ever increasing amount of interest on
by hackyhacky 1y ago
> There's also near zero evidence we actually need a balanced budget for a healthy economy.
The alternative is to pay an ever increasing amount of interest on our ever increasing debt.
The other alternative is to default on our debt obligations.
Neither option is good.
- whatshisface 1y agoIf you borrow at 3% to invest in an asset that yields 10%, you can increase your position forever and will be rewarded.
- hackyhacky 1y agoSure, but that is not what is happening. In reality, debt is increasing faster than GDP and interest represents a larger part of the budget. Do you think that's sustainable?
- whatshisface 1y agoIt'll be even less sustainable if we cut investment spending in science in favor of uncapitalized spending.