Hi doma,
you and I see debt differently.
for me, i care about the debt burden relative to gdp and the capacity of the economy to pay its interest as well as its other costs over time. if you can borrow at 2% and generate 8% pa over 15 years, you've probably done a decent deal. debt allows a government to invest in its future - for instance, in the napoleonic era, to build the navy that protected the UK and its possessions. so for me, debt is an instrument. i'm only worried if the economy (including the debt burden) is unsustainable in the long run.
you seem to think debt is something inherently wicked. okay. i get it.
i've responded to the various other points you've made here previously eg about the good sense of perpetuating rather than repaying debt - however old - if the terms are friendly. no purpose in going around again.
| 