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Politics : The Castle
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To: Neocon who wrote (407)11/14/2002 11:27:15 PM
From: Lazarus_Long  Read Replies (2) of 7936
 
If GDP growth
markedly exceeds the accrual of deficits, you will pay down the debt, net.
That's what doesn't happen. Gov't doesn't reduce debt when times are good.
"HEY! We've got more money coming in! Let's spend more! (And make more of our constituents happy, assuring out re-election.)"
You know that. We all know that. We've seen it many times.
Debt is drug to politicians. THe more they get, the more they want.

In a robust economy, and with some prudence, there is no reason to resort to currency inflation or go bankrupt.
In an ideal world, that's true. This one isn't it.

In any case, the possibility of liquidating assets to reduce indebtedness hedges against either alternative, as well.
What are you saying? The gov't is going to sell the highways? The bridges? The Capitol building? B1Bs?

Are you serious?
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