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The "~38T national debt bomb" is not caused by AI and not that large compared to debts other countries have dealt with. It's about 100% of gdp and Japan is abou
by tim333 1y ago
The "~38T national debt bomb" is not caused by AI and not that large compared to debts other countries have dealt with. It's about 100% of gdp and Japan is about 250%. The UK was about 270% after WW2 and that got paid down to 50% before running up a bit.
Not ideal but doesn't have to make anything implode.
- spwa4 1y agoNo, the largest cause of the ~38T national debt bomb is Trump. His first term: $8 trillion. His second term: $4 trillion so far, and we're not even at 25%.
- subjectivationx 1y agoThe problem is Debt to GDP is largely meaningless. It is the total debt that matters. I am sick of reading this bullshit. You don't know what you are talking about and it is just always repeated as a reason to spend more.
- anon7000 1y agoWhy is the raw total number the only or most important thing? BS example numbers, but if we have 50x the debt today, that’s not as scary as it sounds if we also have 50x the population and 50x the economic productivity (50x the tax base to pay off the debt). So it is about ratios. Maybe GDP isn’t the right number, but surely the raw number by itself is not very meaningful. (Maybe debt per capita, or debt per company tax dollar) Inflation helps you increase GDP and keep the economy running, so it’s not surprising they’re mentioned together.
- 7jjjjjjj 1y agoIf that's true, why do banks ask for my income when I apply for a loan?