Debt is not “accumulating” in the way you imagine it is. Debt load remains fairly stable, and old debt is paid off as new debt is taken on in roughly equal rates as a percentage of GDP.
If the world would give you trillions of dollars at 2% and your return in that money exceeds 2% it would be pretty stupid to pass it up.
The viewpoint of bemoaning debt because just think of what we could have paid for with that interest is wrong because it completely discounts the immediate and long-term value of the things which the debt financed to begin with.
Bemoan whatever you perceive as wasteful government spending, but just like companies won’t achieve the highest returns by being debt free, neither do households and especially not governments.
Debt is not “accumulating” in the way you imagine it is. Debt load remains fairly stable, and old debt is paid off as new debt is taken on in roughly equal rates as a percentage of GDP.
If the world would give you trillions of dollars at 2% and your return in that money exceeds 2% it would be pretty stupid to pass it up.
The viewpoint of bemoaning debt because just think of what we could have paid for with that interest is wrong because it completely discounts the immediate and long-term value of the things which the debt financed to begin with.
Bemoan whatever you perceive as wasteful government spending, but just like companies won’t achieve the highest returns by being debt free, neither do households and especially not governments.
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