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.
Glad to be of help.
Well said. And most people would be surprised to find that this is what Keynes believed. The people who claim to be his followers are a different matter entirely.
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