Joe Doakes from Como Park emails:<\/p>\n
Turns out my way of thinking is old-fashioned. I need to think like a millennial. I understand it all now.<\/p>\n
The national debt is $20 trillion but interest on the national debt is only $200 billion, which is only 5% of the annual budget.<\/p>\n
We don\u2019t care about the total amount of debt. We don\u2019t even care about the annual deficit, because . . .<\/p>\n
WE CAN AFFORD THE MONTHLY PAYMENTS.<\/p>\n
That\u2019s literally The Plan for running the nation. Just keep running up debt to buy what we want, and make the minimum monthly payment.<\/p>\n
But why stop there? Why make the payment at all? Why have student loans \u2013 just make college free. Why have FHA loans \u2013 just make houses free. Government pays for everything, add it to the debt, make the minimum monthly payments.<\/p>\n
Why go half-way? Go all the way!<\/p>\n
Joe Doakes<\/p><\/blockquote>\n
It’s the “Everyone’s pal from college who just kept on running up new credit cards” theory of budgeting.<\/p>\n
Someday – five years? \u00a0Five generations? – some government will treat “reversion to a barter economy” as “everything is free!”.<\/p>\n","protected":false},"excerpt":{"rendered":"
Joe Doakes from Como Park emails: Turns out my way of thinking is old-fashioned. I need to think like a millennial. I understand it all now. The national debt is $20 trillion but interest on the national debt is only $200 billion, which is only 5% of the annual budget. We don\u2019t care about the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":["post-62951","post","type-post","status-publish","format-standard","hentry","category-economy-and-the-market"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/62951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62951"}],"version-history":[{"count":1,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/62951\/revisions"}],"predecessor-version":[{"id":62955,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/62951\/revisions\/62955"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62951"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}