Borrowed Prosperity
Many of the world's governments are in debt. Some, like the U.S., are in massive debt.
However, when these debts are paid off, if they ever are, or when interest is paid off, public sector investment grows to some degree, and prosperity continues.
How do I know this? The answer is found in who is on the credit side of this debt: individuals.
This is simple the corrolary of macroeconomic Keynesian deficit spending. When taxes are decreased without government spending decreasing, and vice versa, the economy grows faster. For the very same reasons, when these deficits are paid off economic growth will be rolling.
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