Author Topic: Economics Culture  (Read 2388 times)

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Offline wilber

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Re: Economics Culture
« Reply #75 on: March 09, 2020, 09:11:47 am »
$26 billion today is more than the federal debt stood when I was born. We also have to consider that the GDP of Canada was $41 billion at the time, so inflation must be taken into account. The interest on the money may increase over time, but inflation cannot be ignored. That $2 trillion in 80 years has no comparison to $2 trillion today.

Morally bankrupt if future generations do not inherit the benefits our society has created. We all benefit to some extent on the investments of previous generations, the real question is to what level.

You are counting on infinite growth and inflation to render your debt less costly.

What benefits? They end up paying for services others consumed and infrastructure that no longer exists.
"Never trust a man without a single redeeming vice" WSC