Number from https://www.usdebtclock.org/
Do you think national debts to be immoral or wrong?
On the one hand, the country is strained and if the debt is not paid, it’s basically like stealing from future generations to pay for the present; it’s not “their money” to borrow.
On the other, “good debt” enables people the ability to build at a profit; wealthy people do this all the time: for example, take out a loan for $9 million and buy some properties, wait a bit, sell at $10 million, have a net $1 million gain… in the meantime they are $9 million in “debt”, but it’s “good debt”. Is the national debt “good debt” though (I don’t really know).
On the cynical end with this though I guess is the realization that this was likely to be a problem, it’s the “tragedy of the commons” applied to government: elites get in power and put the government in to debt for their pet projects, and they don’t really care if the government goes bust because it’s not “their money or problem”. Does this imply a necessity of “anarchism” (anarcho-capitalism) with modern governments being inherently tending towards self-destruction? Or banning taking on national debts to prevent this problem?
Opinions on if national debts are wrong or how they are to be managed?
Money is made up, at anytime the government could just print more money and wipe out the debt.
it is pretty amazing the games they play to somehow keep the country afloat with so much debt; I do think some of the “debt” is also fictitious (the interest on it most especially) - the meme of the “trillion dollar coin” aside though, I hope you’re just memeing because I don’t think they can literally just print money out of this problem - they could do something like that, but it creates lots of inflation (like is going on) which is the way it gets “paid” for - things become worth less to cover the cost