4 ms·

If we had a government that educated people, potentially, but we don't, so it wont

• dataflow 2mo ago
  I've seen extremely smart/well-educated people (not in politics or any skin in the game) argue the debt isn't really a problem. "It's not like your household debt" and all. This one probably isn't just about education.
  • GlibMonkeyDeath 2mo ago
    That's because the US national debt is indeed not like household debt. As a household, I can't choose to print more GlibMonkeyDeathBucks and hand them out to service my debts. I also don't have my own standing army to defend from creditors who might try to seize my hard assets. Yes, printing money is inflationary.
  • tastyfreeze 2mo ago
    That is the Fed educated position. The Keynsian view of economics sees the good economic times as normal and bad economic times as the aberration. Thus, from that view you go into debt to hold the economy over until the good times return. I've always seen that as an excuse to spend more that you have. Its a trap that is difficult to get out. It is the same as taking more personal debt that you can service. But in the case of the government the bank never says no.
  • budman1 2mo ago
    In small amounts, say <3 trillion dollars, the smart people are right. If the government needs to run a deficit to fight a war, or get the population through a pandemic, it is not a problem. The problem is it is forever, and it is growing. Fantasy that you can do this for 50 years.
    • dataflow 2mo ago
      To be clear, these folks very specifically refer to the giant amounts, not merely the small ones.