Quote:
Originally Posted by Jobaber
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Just remember next time you think we dont have to pay off our debt, 90% of your income is erased because of it.
You spend 90% of your income on paying for the effects of that debt.
Maybe more, everyone in the west's entire life is basically a hamsterwheel by now.
So we wont get rid of the debt, but you're paying for it out of pocket every day.
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Debt is fine if it's useful and not too onerous. Like I said it's 6-12% of government revenue, which is a tiny fraction of US GDP.