So Why Aren’t We Paying Down the National Debt?

Source: American Institute for Economic Research
by Robert E Wright

“If you believe the media hype, a storm awaits America. The US government will have to fight off neo-Nazi religious fanatics, massive climate change, financial armageddon, mass species extinction, alien invasion, dollar dominance collapse, Russia and/or China, near-earth celestial objects, new pandemics, systemic racism, and evil billionaires, likely all at the same time. While more than one of those threats are overblown and/or unlikely, nobody knows what the future will bring other than that something bad will certainly happen at some point. So why aren’t policymakers eager to pay down the national debt? A small national debt is the best security blanket America has ever had, and arguably the reason it expanded so quickly and won all of its wars, the important ones anyway.” (05/11/230