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> massive sovereign debt burden Cost to service the debt is about 60% of what it was in the 1980's. All those bonds are long since paid off. This is a meme.
by ajross 1y ago
> massive sovereign debt burden
Cost to service the debt is about 60% of what it was in the 1980's. All those bonds are long since paid off. This is a meme. Should we adjust to something more sustainable? Yes. Is the "burden" too high to bear? No, it's just not.
- whimsicalism 1y agoif you know enough to know that cost to service was higher in the 1980s as a % of govt revenue (not sure about 60%, we're actually pretty close AFAIU) then you should understand enough to know why that is not nearly the full picture.