5 ms·

Yeah, but this was during the 90s, a period of growth caused by IT and finance developments. That budget surplus was a result of high economic growth, not a cau

Yeah, but this was during the 90s, a period of growth caused by IT and finance developments. That budget surplus was a result of high economic growth, not a cause. Which, incidentally, is what the data that R/R distorted so much supports: that low growth causes high public debt, not the reverse.

fulafel 13y ago
Erm. I think you're agreeing with me but thought I said something about the growth period's cause? I was providing a counterexample to his claim that "rich countries, especially the US, have never followed a Keynesian policy of minimal to no deficit during periods of private sector growth".
- maloney 13y ago
  I don't think he is agreeing with you at all. The state just spent the social security surplus instead of going into debt. If you followed Keynesian policy you would of saved the money caused by the boom.
  - fulafel 13y ago
    No, this is unrelated, and false (did you read the link?).