Author Topic: Government Day-to-Day  (Read 13996 times)

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Offline wilber

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Re: Government Day-to-Day
« Reply #180 on: February 10, 2020, 12:24:29 pm »
National economies do not work like personal finances.

If you don't think borrowing and not paying it off matters, just look at the US.

When Obama left office, interest on the US federal debt was 280 billion, now it is over 400 billion and is on track to be over 700 billion by 2024 at current US 10yr bond rates. That's over 700 billion they will have to raise through taxes or additional borrowing just to pay interest on what they already owe. You don't think that will have an affect on the economy or services government will be able to provide in future?
"Never trust a man without a single redeeming vice" WSC