Sophia wrote on Sep 18
th, 2023 at 2:39pm:
The Dan debt can never be repaid.
Even our great grand children will be born with the debt
hanging around their necks for their whole lives.
The US is currently grappling with the same mythology re debt; every few years they indulge in a political circus re the 'debt ceiling', and then proceed to kick the can down the road.
At least the truth about debt should become evident, when US debt is c. $100 trillion by the end of the decade, and the sky hasn't fallen in. (Note: the US can cancel debt written in $US at any time).
As for "future generations", they will be worse off, if current governments fail to maintain and build the necessary infrastructure required for national productivity, obviously.
Quote:Every time…. Labor is elected…. It’s spend spend spend ….and big debts follow …. then liberal gets voted in and pulls the purse strings tight to lower the debt…. only for people to ark up and vote big spenders labor back in.
When are those people going to realise… you cannot have your cake and eat it?
Yes....the political game: Labor spend, to maintain some public equity and productive national infrastructure, and the Libs cut spending and taxes, under the delusion that government debt is like private sector debt.
Time to educate yourself, study Modern Money (in the post gold-standard era).