Debt To GDP Ratio Paper Austerity Founded On Was Wrong

[The Dude]

[Spider]

How are there no negative consequences? The debt has to be serviced. Thats hundreds of billions of dollars off the top of of the budget every year...money which could have been put to use for the people, or allow for lower tax rates, or to fund science/exploration/education, or whatever.

I guess if we accumulate debt at a rate where it gets negated by inflation and payment...then it could be like treading water at the sewage plant?

[lnrw]

Dude, I don't think any debt is unique. It's all debt that has to be paid by someone.

You're suggesting that the future is magic and has no requirement to be a part of reality.

Debt makes you poor.

Even now, we are only paying for the interest and the debt is growing. what happens when you can't pay the interest? Is there a unique way of dealing with that?

Debt far exceeding your income is not reasonable.

[exploited]

[Pebble]

[lnrw]

[The Dude]

[The Dharma Bum]

Just because public debt doesn't have to be paid OFF, doesn't mean the interest doesn't have to be paid every month until it is and if the interest on the amount owed is higher than we can afford to pay there definitely will be a problem.

Very disingenuous statement. lol

[The Dharma Bum]

Completely in line with your agenda to be unprincipled.

[Indy]

Again, now is not the time.

And I wish for once that somebody would own up to the fact that to these people, the "debt" is not the endgame. It's the smokescreen.