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Some said once that debt is good
Edit: hello financial analysts
All I know is that for all of my 46 years, I've been told what the national debt is as if it is significant and it keeps going up and it doesn't seem to have any effect on anything.
This is because it doesn't really matter. We could just mint a few trillion dollar coins if we had to to make a payment on it. We probably would only get 1/2 the inflation we did coming out of the pandemic as a lot of that was geopolitics that's already priced in now, though corporate greed is another matter. We also could just revert a bunch of the tax cuts from the last 20 years or so, and probably make a dent in the deficit if not get to a surplus again.
My limited understanding is that economists are divided around if too high a debt percentage is what led to Japan's stagflation, but from what I've read the US had that since the 70s already in real wage terms, so would it actually be a change to most people? And it's not like Japan is some failed hellscape - it's a huge economy with a pretty decent standard of living from what I can tell.
I still maintain so much of this is driven by thinking there isn't some limit here - like we talk about "tiny" GDP growth compared to developing economies without realizing that if you start at $1, it's easy to have 500% growth in a year, but each year the absolute amount of growth needed to hit that percentage goes up. The US only managing to grow 1% on a what, 30 trillion GDP is actually 300 billion, which is a huge absolute amount. That's like an entire Merck, Costco, or Adobe each year added enmasse.
He who goes out owing the most wins. Lived like a king and didn’t pay for a damn thing.