Re: OT: Political flame bait

In article <vplss159p5amg0ov9mvo48nl5ppp9881dv@xxxxxxx>,
John Larkin <jjlarkin@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx> wrote:
[...]
>Governments don't really pay back this sort of borrowing; they own the
>presses, so they just print money as they need it: they inflate the
>debt out of existance.

You have to have an infinite amount of inflation to bring the debt to
zero. In the mean time, the interest on the T bills will rise to infinity
and leave you back in trouble.

People have argued that the French royal family lost their heads over bad
economic understanding.

[...]
>And, politically, liberal congressman are moaning mightily about debt
>these days, but not voting in accordance.

Good politics is bad economics. Good economics is bad politics.

If you want to balance the budget today, you either have to go back on
some promices the government has made or raise taxes. Neither will get
you re-elected.



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