Re: Is the national debt a good thing or a bad thing?
And remember the vast majority of the new Debt created in the last 7 years was due to tax cuts on the wealthy rather than spending increases. So the debt we are incurring is not necessarily done so for the good of the majority. ( major road construction etc. ) Rather the wealth of the super rich has increased dramatically leading to some dramatic demand increases for products and services catering to them. A side benefit that does work for the majorities favor is the rich will invest in private enterprise which can be highly beneficial for the public.
Overall a shifting of the financial burden to the future so that the current generation of rich can be richer. An interesting case of how this works out is the Gates Foundation. Bill Gates saves millions of dollars each year due to the tax cuts. He then chooses how this money will be spent for the good of the world. Rather than the US Govt.
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