Posted on 08/21/2015 2:08:03 PM PDT by dynachrome
Edited on 08/22/2015 2:18:47 AM PDT by Admin Moderator. [history]
Rand Paul said something funny the other day. No, really — although of course it wasn’t intentional. On his Twitter account he decried the irresponsibility of American fiscal policy, declaring, “The last time the United States was debt free was 1835.”
Wags quickly noted that the U.S. economy has, on the whole, done pretty well these past 180 years, suggesting that having the government owe the private sector money might not be all that bad a thing. The British government, by the way, has been in debt for more than three centuries, an era spanning the Industrial Revolution, victory over Napoleon, and more.
Alexander Hamilton agreed.
He likes inflation, too.
Uh, right. So I should quit my job, get a couple credit cards with $25,000 limits and live off them, right?
“inflation”
Japan has tried to raise inflation for years. We are trying to do the same. The fools think they can control it, if they succeed
So did Dick Cheney.
I didn’t need to read this on a Friday...Lord protect my kids from their government/econ high school teachers.
To my ever lasting shame we went to the same high school. How could one school turn out both this moron AND me???
: )
Is an Idiot. If his opinions were alive, we should kill them with fire, just to be sure they are dead.
Careful with that criticism, after all Krugman is a Nobel Laureate (just like Obama and Arafat)!
Only thing is, governments don’t go into debt, countries go into debt. Countries are people who pay taxes to service the debt that their government gets into. A governments is a subset of the people of a country, charged with making decisions on behalf of the population at large. Regardless of how the leaders are chosen, it is the people that are in debt. And that means all of the people, including those that have yet to be allowed to be born.
Quit your job, but don’t cancel any subscription to The New York Times!
boiled rope is even better
Well, if you want to reduce our taxes by 80%, I guess that would be okay.
They can’t of course. And the way things are going, the day will come when inflation is going to rise wildly out of control.
Debt can be good in some instances. Building infrastructure that will be used long after it is paid for is a good reason to go into debt. Going to war to prevent the end of your civilization is a necessary reason to go into debt.
Going into debt to pay for social programs should never be done. This should always be paid for out of the existing tax base and adjusted according to affordability.
Krugman always has been a few shares short of a round lot.
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