The ticking time bomb of debt... Still ticking 80 years later - Page 3 - Politics Forum.org | PoFo

Wandering the information superhighway, he came upon the last refuge of civilization, PoFo, the only forum on the internet ...

Everything from personal credit card debt to government borrowing debt.

Moderator: PoFo Economics & Capitalism Mods

#15150301
Finfinder wrote:The debt will never be addressed when the Democrats never except any compromise on spending. The Democrats position in their mind is the only position even when they are not in power. They believe they should win every debate and issue without any compromise.

The point of this thread is that the US national debt is NOT a ticking time bomb.
That after 80 years of watching it "tick" and never explode, we ought to go back to the economic theory and see why it hasn't exploded yet.
Let's start this process with this VERY IMPORTANT THOUGHT => all economic theories are *just* theories. All theories are subject to the possibility of being wrong. Newton's theory of gravity was, and still is, very accurate for most things, but it is now known to be wrong. For 200 years geologists thought that continents didn't move, now we know that theory was wrong. I assert that if hard sciences can be wrong, that it is likely, in fact more likely, that soft social sciences like economics can also be wrong. Maybe even in a huge way, like geology turned out to be.

Fun fact -- did you know that the UK (aka England) has had its debt time-bomb ticking for about 325 years now? And, even losing its Empire didn't make the bomb explode.
.
Last edited by Steve_American on 17 Jan 2021 03:21, edited 1 time in total.
Israel-Palestinian War 2023

You mean the settlements they abandoned in 2006 f[…]

Russia-Ukraine War 2022

Meanwhile, your opponents argue that everyone e[…]

People tend to forget that the French now have a s[…]

Neither is an option too. Neither have your inte[…]