[ExI] Trump's Coronavirus Response

[SR Ballard]

Sent from my iPhone

> On May 10, 2020, at 9:32 AM, William Flynn Wallace via extropy-chat <extropy-chat at lists.extropy.org> wrote:
> 
> 
> 
>> On Sun, May 10, 2020 at 9:26 AM SR Ballard via extropy-chat <extropy-chat at lists.extropy.org> wrote:
>> “If” is why.
>> 
>> SR Ballard
> 
> Sorry - only had two cups of coffee so far.  Brain fog.  What do you mean by 'if'?
> 
> bill w
>> 

>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



>>> On May 10, 2020, at 7:28 AM, John Clark via extropy-chat <extropy-chat at lists.extropy.org> wrote:
>>> 
>>> 
>>> 
>>>> 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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