Author Topic: Remember the $30B deficit? Well, it turns out that it's actually a $20B deficit.  (Read 2727 times)

0 Members and 1 Guest are viewing this topic.

Offline wilber

  • Administrator
  • Full Member
  • *****
  • Posts: 9118
I think you might have that backwards.

If we're heading into a demographics crunch NOW, we'd be best to reign in spending as much as possible now, with the expectation that things will get worse in the future. If we spend now, we'll be increasing the debt even more, which will make it harder to deal with the debt in the future.

I agree. I don't see how increasing the amount of revenue required to service debt now could help us with increased revenue requirements in the future, unless that increased debt is targeted specifically toward increasing future revenues. Unfortunately, with all spending coming out of the same big pot, governments can claim it is being used for anything they want, but the debt and its service costs remain the same regardless of their claims.
"Never trust a man without a single redeeming vice" WSC