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To: george76
Governments should not borrow money in the first place.

This guy has no idea what he's talking about. Not only is it acceptable for governments to borrow money ... but in some cases borrowing money is the best approach to funding public expenditures.

Public infrastructure is a perfect example. Paying for roads and bridges out of current revenues is a poor approach to infrastructure management and finance. Matching the payment period for an asset to the useful life of the asset is exactly the right thing to do.

The problem we face is when governments borrow boatloads of money to fund operating expenses that have a limited "useful life." Borrowing money to keep Social Security and Medicare solvent, for example, is a disaster.

5 posted on 05/31/2023 10:29:50 AM PDT by Alberta's Child ("I've just pissed in my pants and nobody can do anything about it." -- Major Fambrough)
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To: Alberta's Child

Borrowing is borrowing to our “betters” in DC. Their reasoning: If it’s good at all, then it’s always good for any government agency that wants to. Of course, it’s bad when _tax payers_ do it. They want solvent tax payers to make government solvent. And no agency will be denied: if one gets to borrow to the hilt for “infrastructure” programs, they’ll demand the same for their entitlement programs. And right now, they do indeed get it.

All this can be turned around. But that would require changing minds and never looking back. Either in government or in We the People. I don’t see that happening anytime soon. I think it’ll come come to a grinding, screeching, crashing halt first. But we can try! :-)


9 posted on 05/31/2023 10:58:54 AM PDT by BradyLS (DO NOT FEED THE BEARS!)
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