[ExI] Trump's Coronavirus Response

[John Clark]

On Sat, May 9, 2020 at 11:08 PM SR Ballard via extropy-chat <
extropy-chat at lists.extropy.org> wrote:

> *I could feel much more comfortable with a “zero sum” or positive budget.*


Why? In the last 2 centuries we have dramatically improved our wealth
generating machinery, aka our productivity, so as long as the borrowing is
not larger than the rate of wealth generation improvement it would make
perfect economic sense to borrow a hard to make dollar today if I can pay
it back with a easy to make dollar tomorrow.  And that's why, except for
the Clinton years, the USA has been running a budget deficit every single
year since 1835. And in the entire history of the nation you will not find
a time less appropriate to worry about the budget deficit than right now!

John K Clark

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