[ExI] I Miss The King of Extropia
johnkclark at gmail.com
Thu Jul 21 02:39:32 UTC 2016
On Wed, Jul 20, 2016 spike <spike66 at att.net> wrote:
> If there is a deficit, our debt to GDP
> ratio is increasing.
In 2009 the deficit was about 10% of GDP, in 2015 it was about 3%. That's
not a increase.
> There is another factor here: we always assume growth.
A pretty good long tern assumption if technological progress doesn't stop
dead in its tracks.
> But that assumption
> could fail,
Yes that's possible. If inflation and interest rates got very high growth
would slow, and that would happen if the deficit was too high. But both
interest rates and inflation are at incredible historic lows, so it sure
doesn't seen like the deficit is a important economic problem right now. A
more powerful argument could be made that the deficit is too low not too
> We can and should balance the federal budget.
If so then Bill Clinton was the only one who got it right since 1835.
On a different topic, there is a very very interesting video about the
author of "The Art Of The deal" and also a good article. And no I'm not
talking about Donald Trump:
John K Clark
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