Balanced Question Time panel tonight - of course not!
Discussion
Ali G said:
edh said:
And that's your first mistake - Government finances are not like household finances.
How so?You've piqued my interest now.
What is that is so different about Government finances which permits common sense to be ruled out?
Or are you invoking 'magic money tree' hypotheses?
1. The power to levy and collect taxes
2. Fiat Currency
Households have control of neither of these.
Sometimes what you believe to be "common sense", isn't.
We've had a national debt for a long time, we're running at levels similar to other countries. The debt rises and falls as a % of GDP.
edh said:
How about
1. The power to levy and collect taxes
2. Fiat Currency
Households have control of neither of these.
Glad you said that!1. The power to levy and collect taxes
2. Fiat Currency
Households have control of neither of these.
The electorate may be somewhat disappointed to find that they have no influence on such matters.
edh said:
Sometimes what you believe to be "common sense", isn't.
edh said:
We've had a national debt for a long time, we're running at levels similar to other countries. The debt rises and falls as a % of GDP.
And spending £43 billion per annum on in interest payments to service the (still growing) National Debt is a 'good thing'
Now what could that $43 billion be spent on had not the politicos not bought votes on the 'never never'
This is a debt which will not be paid off in my lifetime, nor the next generation.
But you are happy with that, presumably?
edh said:
How about
1. The power to levy and collect taxes
2. Fiat Currency
Households have control of neither of these.
Sometimes what you believe to be "common sense", isn't.
We've had a national debt for a long time, we're running at levels similar to other countries. The debt rises and falls as a % of GDP.
What does a fiat currency issuer do when they can't sell enough bonds at a bond auction?1. The power to levy and collect taxes
2. Fiat Currency
Households have control of neither of these.
Sometimes what you believe to be "common sense", isn't.
We've had a national debt for a long time, we're running at levels similar to other countries. The debt rises and falls as a % of GDP.
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