[ExI] I Miss The King of Extropia

John Clark 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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