Some economists have argued that the United States could flourish in permanent debt and even with an increasing debt, with sophisticated arguments the non-economist can’t really judge. The ones I read never raised the question of when the limit will be reached as presumably it must eventually (see Greece, Italy, etc.). There is also the question of who holds the debt and to what self-interested ends they might put the power this gives them.

In any case, adding debt to debt can’t possibly be sustainable, a point this video makes amusingly.

Articles by David Mills

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