Paul Ryan

[Vampyr]

Do we even want to pay off the debt? I thought that as long as the debt is lower than the GDP you're fine. It's not household economics - there's not going to come a day when we are actually called in to pay that debt. We can carry it forever.

I think right now the debt actually is a little over the GDP, which is definitely not good...but saying you're going to "pay off the debt" is a pipe dream and wouldn't even yield the healthiest economy. You want to have a debt. You want to have an ever increasing debt. You just want it to stay lower than the GDP.

[Professor S]

Originally Posted by Vampyr

Do we even want to pay off the debt? I thought that as long as the debt is lower than the GDP you're fine. It's not household economics - there's not going to come a day when we are actually called in to pay that debt. We can carry it forever.

I think right now the debt actually is a little over the GDP, which is definitely not good...but saying you're going to "pay off the debt" is a pipe dream and wouldn't even yield the healthiest economy. You want to have a debt. You want to have an ever increasing debt. You just want it to stay lower than the GDP.

Bond would likely give a better explanation of the impact of debt on economies than I. But I look across the Atlantic ocean and see a pretty stern warning.