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Posted on 12/9/24 at 2:03 pm to Taxing Authority
quote:I actually disagree.
A default to domestic bond holders is no less problematic than to foreign borrowers.The inability to roll over maturing debt is the same in either case.
Defaulting to domestic bondholders is less problematic because governments can implement policies like inflation or currency devaluation more easily to manage internal debt.
Domestic defaults are also less likely to immediately disrupt foreign trade or international credit ratings as severely as defaults on foreign debt.
At bottom, “The Debt issue” scare tactic that each party uses to their benefit when not in power is hyperbole for the reasons I’ve stated.
If it was truly a problem, why are we talking about Hunter Biden’s pardon instead of amending fiscal policy? Our side is just as guilty as democrats.
Posted on 12/9/24 at 2:09 pm to RFK
quote:Ok.
I actually disagree.
quote:Sure. That won’t have any effect on a country that has to import overseas goods for… damn near everything.
Defaulting to domestic bondholders is less problematic because governments can implement policies like inflation or currency devaluation more easily to manage internal debt.
quote:I guess if you consider starvations a strategy, it’s great.
Domestic defaults are also less likely to immediately disrupt foreign trade or international credit ratings as severely as defaults on foreign debt.
quote:Despite people’s protestations, voter L-O-V-E government spending. They say cut! But they only want to cut spending that affects others, not themselves. Check out the Social Security thread.
If it was truly a problem, why are we talking about Hunter Biden’s pardon instead of amending fiscal policy? Our side is just as guilty as democrats.
Not sure what “our side” is, but democrats have always been about reckless spending and republicans are in the throes of a populist movement that loves spending too.
Posted on 12/9/24 at 2:12 pm to RFK
I have heard others argue that the debt should be compared to the assets of the USG.
Then the argument is whether land, land resources (eg oil, timber) and future taxes are part of the assets.
If land resources are included, are they really assets if the USG may never exploit them?
Not an economist but the fact that our government has no restraint on its spending makes me uncomfortable to say the least...
Then the argument is whether land, land resources (eg oil, timber) and future taxes are part of the assets.
If land resources are included, are they really assets if the USG may never exploit them?
Not an economist but the fact that our government has no restraint on its spending makes me uncomfortable to say the least...
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