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by DougWebb
947 days ago
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I'm hardly an expert, but I think "government debt" and "government investment" are accounted for the same way, but only the former is a problem. If the government sells bonds/T-bills (eg acquires debt) and uses that to improve the country in a way that benefits the citizens and encourages population and economic growth, then its worth doing. If the government uses the money only to pay interest on existing debt, or to give it away to make wealthy citizens more wealthy, or other unproductive uses, then it's not so good. The attacks directly on the national debt are a political strawman, meant to distract from the real issues about where revenue comes from and how it is spent. It's like the constant debt ceiling wailing; Congress sets a budget and legislation that requires spending more than the revenue available, then sets a debt ceiling that prevents the treasure from borrowing to cover the required by law spending, then bitches and moans and grandstands over how the debt ceiling creates a crisis. It's all for show. |
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No, I assure you that those of us concerned about the national debt are actually concerned about it.