<
https://www.theguardian.com/commentisfree/2020/apr/22/we-do-not-have-to-worry-about-paying-off-the-coronavirus-debt-for-generations>
"As government pumps enormous spending into the Australian economy to
keep it on life support during the Covid-19 shutdown, talk is starting
to turn to the fear of the long-term debt we are taking on.
This fear is due to the belief that the federal budget is like a
household budget. If we borrow, we must pay it back, within the term of
the loan, or our children will be paying it instead – or so the story goes.
The story is fiction. Public debt is not like household debt."
Via Muse, who wrote "Brilliant! Don’t let wealthy pollies make you think
that more oppression is reasonable."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://www.xanadu.com.au/ Chief Scientist, Xanadu
http://www.glasswings.com.au/ Partner, Glass Wings
http://www.sericyb.com.au/ Manager, Serious Cybernetics
