William Flynn Wallace
foozler83 at gmail.com
Tue Oct 23 20:16:04 UTC 2018
John Clark wrote:
a dollar today is worth more than a dollar tomorrow and that's why people
borrow money and that's why interest exists.
Is this why some people I've heard say that a balanced budget is a bad
idea? That debt is a good thing? bill w
On Tue, Oct 23, 2018 at 3:11 PM John Clark <johnkclark at gmail.com> wrote:
> On Tue, Oct 23, 2018 at 1:22 PM David Lubkin <lubkin at unreasonable.com>
> * > Is this percentage of GDP *at the time* or of current GDP?*
> They say there are no dumb questions so I will ask one of my own; How
> could Harry Truman be expected to know what our current GDP is?
> *>Since **debts are paid with current money, why does the GDP then
> If you really insist on using our current GDP in these statistics then
> Truman did a even BETTER job of reducing the debt as a percentage of GDP
> because it's far larger now than it was in Truman's day. A modern
> politician could play the same trick and say our current debt is a trivial
> percentage of the GDP we'll have after the Nanotechnology Singularity so
> don't worry about it. And there would actually be some truth in that
> because even without a Singularity a dollar today is worth more than a
> dollar tomorrow and that's why people borrow money and that's why interest
> exists. But are you sure you want to play that game with economic
> statistics? It's certainly not what a fiscal conservative would do.
> John K Clark
> extropy-chat mailing list
> extropy-chat at lists.extropy.org
-------------- next part --------------
An HTML attachment was scrubbed...
More information about the extropy-chat