Debt

[LesActive]

Maybe the dread of it that's always hung over our heads would seem more real if an alien invasion fleet were in orbit demanding repayment or else.

Maybe. Certainly some kind of incentive to clean up the mess would be welcome. There don't seem to be many real consequences to those whose job it is to dig the hole at the expense of others.

[LesActive]

Depends what you mean by "spend". Borrowing to replace a leaky roof on your house and borrowing to take a vacation are both spending.

Vacations are nice and all but are considered luxuries, even in the west, but if you neglect the roof you won't have much of a home to return to. To continue the analogy: is it worth fixing the roof if the supports are wonky?

[Wilber]

Vacations are nice and all but are considered luxuries, even in the west, but if you neglect the roof you won't have much of a home to return to. To continue the analogy: is it worth fixing the roof if the supports are wonky?

You need a roof, you have no choice.

[LesActive]

You need a roof, you have no choice.

Indeed, and on sunny days one would be wise to fix the shoddy workmanship/materials of previous contractors if it's found wanting, preempting the eventual flood. Fixing a roof while its raining is an action in desperation and is bound to cause hidden issues in the future.

[Wilber]

Indeed, and on sunny days one would be wise to fix the shoddy workmanship/materials of previous contractors if it's found wanting, preempting the eventual flood. Fixing a roof while its raining is an action in desperation and is bound to cause hidden issues in the future.

What's your point? Mine was that there are different types of spending. Sometimes borrowing makes sense and some times it doesn't.

[LesActive]

What's your point? Mine was that there are different types of spending. Sometimes borrowing makes sense and some times it doesn't.

My point was merely that priority should be placed on paying down outstanding debts much faster than the interest accrues. That does not appear to be the habit of most governments.

[Wilber]

My point was merely that priority should be placed on paying down outstanding debts much faster than the interest accrues. That does not appear to be the habit of most governments.

I agree that when times are good, government should look at paying down debt before it adds new spending and borrowing just to service existing debt is a road to disaster but governments are no different from people in general, the existing expenses don't go away if income goes down and most have a habit of going up.

[GostHacked]

I agree that when times are good, government should look at paying down debt before it adds new spending and borrowing just to service existing debt is a road to disaster but governments are no different from people in general, the existing expenses don't go away if income goes down and most have a habit of going up.

The debt of the nation was there long before I was born, and will be there long after I am gone. Something amiss here.

[ron Young]

Tell you what lets reign in government waste and inefficiencies and debt will not be an issue. So typical treating the symptom and not the actual illness.