"Debt service is a pretty small number". It is currently 1.2 trillion per annum or about 25% of all gov revenues. And it is growing. But if Krugman says it is pretty small, no need to worry 😅
It's unbelievable that Krugman is a nobel laureate; he is only a progressive minded economist with no footing in the real world. People like him are the reason we got inflation up to a 40 year high.
@@conodeen3588 The point is this. Is better to limit debt rather than have too much. We have never had this much debt. If rates rise (rates are rising) it will be very problematic. Things can go from bad to worse very quickly. You see, it doesn't take deep thought to do the right thing. It does not take a PHD to know where we are headed.
They actually don't have to borrow, they choose to. They get enough in taxes to pay the debt. But they would have to cut programs like social security and/or defense severely if they wanted to stop borrowing.
He is the CNN of economists
He is as delusional as he is wrong.
"Debt service is a pretty small number". It is currently 1.2 trillion per annum or about 25% of all gov revenues. And it is growing. But if Krugman says it is pretty small, no need to worry 😅
It's unbelievable that Krugman is a nobel laureate; he is only a progressive minded economist with no footing in the real world. People like him are the reason we got inflation up to a 40 year high.
Indeed. If only the country would listen to your years of rigorous deep thought in intricate economics we’d be so much better off!
@@conodeen3588 you are so right
@@conodeen3588 Some things don't require any deep thought.
@@peterponcedeleon3368 I’m with you man. In fact, why just “some things”? I say thought itself is overrated!
@@conodeen3588 The point is this. Is better to limit debt rather than have too much. We have never had this much debt. If rates rise (rates are rising) it will be very problematic. Things can go from bad to worse very quickly. You see, it doesn't take deep thought to do the right thing. It does not take a PHD to know where we are headed.
Krugman once said " The internet will be no more important than the fax machine"
That wasn’t the quote
Everything is unique to American. Like gun issues ? Stirring trouble with China ?
Like most Americans, our government spends more than it earns and only survives by borrowing (currently at 4.3% per yr on $32T).
They actually don't have to borrow, they choose to. They get enough in taxes to pay the debt. But they would have to cut programs like social security and/or defense severely if they wanted to stop borrowing.
To inflate is to be a human being.
Leif man has been wrong on every issue…but at least he’s certain about it.