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The Magistrate

(96,043 posts)

14. It Does Not Seem To Be, Sir

Reply to WarGamer (Original post)

Wed May 24, 2023, 08:23 PM

May 2023

I base this on decades of hearing dire warnings that 'crushing Federal debt' soon would wreak calamity. It has inclined me to view such predictions in the manner I do predictions of Jesus' return in Glory. Both are matters of faith, by now enmeshed in a complex theological net to obfuscate the hard to avoid conclusion the prophecies have proved false.

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The National Debt... is it a long term problem? [View all] WarGamer May 2023 OP

Problem Is... ProfessorGAC May 2023 #1

If we can start from "break even"... WarGamer May 2023 #2

I'm Ok With That ProfessorGAC May 2023 #6

A balanced budget is not what we should aim for. dawg May 2023 #3

But to spend a trillion dollars a year to serive the debt... WarGamer May 2023 #4

If we can borrow at 4%, and grow the economy at 5%, we are better off. dawg May 2023 #7

I think you're missing my point. WarGamer May 2023 #9

Under your scenario, the investments are paid for inefficiently and the economy suffers. dawg May 2023 #10

I hear ya... WarGamer May 2023 #11

Better to tax the wealthy than the middle class, for sure, but ... dawg May 2023 #13

John Oliver did an interesting segment about the debt a year or two ago stumpysbear May 2023 #5

entertaining but not how an Econ professor would see it. WarGamer May 2023 #8

A balance budget is a reasonable target, but a horrible rule. unblock May 2023 #12

A balanced budget requirement could turn recessions into depressions. dawg May 2023 #15

That's it exactly. unblock May 2023 #18

I'm cool with that... WarGamer May 2023 #20

It Does Not Seem To Be, Sir The Magistrate May 2023 #14

Conservatives scaremonger the debt in order to push for cuts to social programs. dawg May 2023 #16

Exactly, Sir The Magistrate May 2023 #17

Caring about th enational debt is patriotic and smart... WarGamer May 2023 #19

Democrats should scaremonger the debt... to illustrate how the wealthy are cheating. WarGamer May 2023 #21