…that national income has to rise faster than debt. So there seems to be a problem in his argument, because he is pointing to the rise in credit/debt as part…

…future spending on the proposition that government debt must be repaid with future taxes? The United States has never paid its national debt and never will. It simply accumulates. Moreover,…

And from Naked Capitalism: Debt Ceiling Chicken and Trench Warfare – Yves Smith – In the US, despite all the media frenzy over the Federal shutdown, the attention of the…

…activities through debt rather than equity issuance — and to borrow money for stock buybacks. Economists almost universally bemoan the mortgage-interest deduction on efficiency grounds (and equality grounds). I really…

…to wait for inflation. But global debt accumulated, even emerging market debt, because interest rates were not normalizing in the US. The accumulated debt is a problem that hinders growth….

…a failure to raise the US debt ceiling in time to avoid a default. Trump has declared that Sec Mnuchin is responsible for this matter, which he should be, but…

…each country having no foreign debt. Nothing guarantees that. Another steady state is one in which the USA is a net debtor and services the debt with trade surpluses forever….

…to send public debt spiraling upward even faster. When treasury debt holders start to doubt our government’s ability to repay, or to attract future lenders, they will demand higher interest…

…and bad, and that only irresponsible political motives prevent action on them. In the name of a nebulous, unspecified Evil of Debt, the population of the US must be subjected…

…measures to deal with the debt of low-income countries, including “access to more grants, concessional credit and debt relief, combined with better debt management and transparency.” A division of labor,…