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The so called "experts".
Quote:
Originally posted by Spanky
If you wait long enough you don't have to pay the interest either. Considering you need to keep th debt at twenty percent GDP, then todays debt, fifty years from now, does not need to be paid back nor does the interest need to be paid back. If all you had in fifty years is todays debt, todays debt plus interest would not be enough to keep the debt at the twenty percent GDP level (I don't know what the optimum debt level is - but I am just throwing out twenty percent). As the economy grows you would actually have to borrow more money because todays debt plus interest in the long run is not enough money to keep the debt where it needs to be.
The debt from 1960 plus interest would not be enough to maintain the debt of today. That debt from 1960 plus its interest will forever remain in the national debt (and should not be paid back). So we will never have to pay back the debt prior to 1960 plus interest.
For our country, that needs to keep a certain amount of debt, with an infinite life span, and infinite growth, todays debt, if it remains in the debt long enough will never have to be paid back.
Do you get it now?
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Quite honestly, I have no idea what you're talking about now.
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“It was fortunate that so few men acted according to moral principle, because it was so easy to get principles wrong, and a determined person acting on mistaken principles could really do some damage." - Larissa MacFarquhar
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