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Re: Our national debt just exceeded 22 trillion - effect of rising interest rate

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MarkS:
We just hit a new milestone of 22 Trillion in national debt.  Here is an interesting article on the effect of rising interest rates on the government's budget.   https://www.pgpf.org/analysis/2018/12/higher-interest-rates-will-raise-interest-costs-on-the-national-debt

stahleyp:
Good thing the tax cuts are helping to make this...ugh worse?

MarkS:
Hi stahleyp

You won't hear me argue that republicans are free from blame. Since we've dug ourselves such a deep hole we have limited ways out of it.   Broadly speaking we can cut services, raise taxes, devalue our currency, try to grow ourselves out of it or some sort of combination.   I'm not against cutting taxes to generate growth as long as the growth benefits exceed the adverse effects of the tax cuts on revenue.  I can certainly understand how people can have different opinions on the subject.

stahleyp:
I'm of the opinion that we should increase taxes and cut spending. I'm sure that'll cut into economic growth in the short term but long term the country would be better off, I believe. People are way too afraid of a slow or no growth economy.  Too much easy money and a too easy of a life makes people weak.

DooDiligence:

--- Quote from: stahleyp on February 16, 2019, 09:49:05 AM ---I'm of the opinion that we should increase taxes and cut spending. I'm sure that'll cut into economic growth in the short term but long term the country would be better off, I believe. People are way too afraid of a slow or no growth economy.  Too much easy money and a too easy of a life makes people weak.

--- End quote ---

Agreed. No pain, no gain.

We need another Bush, Sr.

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