- #31
MinorFret
Yeah, and that missed the point of what I was trying to say really anyway. The point is that people (myself included) freak out at the debt but it's fairly clear that we wouldn't want a zero debt (or zero spending) government. People who think they'd do just fine under such a scenario are generally out of touch with where their money is coming from. We can't go back to frontier days and most people can do without a lot of stuff they buy. So in the absence of government spending (and/or debt) things would deteriorate pretty badly for most people. So when thinking about sustainability of debt (an entirely valid question) it helps to calibrate by considering sustainability of no debt. I hate being in debt. But it's basically a necessity. The question is what's the right amount? And that's a political and economic question. What they used to call political economy.