[ExI] antiscience from both sides

[John Clark]

On Wed, May 6, 2020 at 4:53 PM Darin Sunley via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

*> What it ultimately comes down to is they're borrowing against assumed
> future tax revenue. Which, as I mentioned upthread, works excellently until
> it suddenly doesn't,*
>

Nice theory but it just doesn't fit the facts. I've been hearing
predictions of economic doom from deficit spending all my life, and so has
my father. and so has my father's father, but the fact is except for the
last 3 years of Bill Clinton's administration (which had a surplus) the US
government has run a deficit *every single year* since 1835, and yet the
USA still has the most powerful economy in the world. And no matter how
beautiful a theory is if it doesn't fit the facts it must be abandoned.

 John K Clark
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