I don't know why we have a ceiling for the national debt. Either debt is bad and therefore we shouldn't incur any, or it's good, in which case we should have lots. Putting a ceiling on the national debt is kind of like saying, murder is bad, therefore you should murder only one person but not too many. It doesn't make any sense.

Also, I have read that nations' leaders love to borrow, because any debt they rack up will be the problem of the next administration to service and repay. This makes them enthusiastic borrowers and very financially irresponsible. How true is this?

Lets share our thoughts.

debt-ceiling crisis:

Something:

"debt ceiling" is play pretend

Debt is good if it's being used on productive ventures.

It's bad if it isn't.

We do some productive ventures, such as healthcare and infrastructure, and some that isn't, like waging decade long wars.

The debt ceiling is stupid though and republicans are like always being garbage over it

This post was edited by NetflixAdaptationWidow on May 13 2023 04:15pm

Have you never heard of moderation?

Moderation is for something that is good, or not bad. For example, you can't really advise people to "murder with moderation". Doesn't make sense.

Sure you can, its called war, you only kill combatants.
Debt is not a bad thing inherently, i use debt to make myself money all the time.
Debt is a tool like any other, you can utilise it for many things and you can misuse it if you are not careful.

I see. That makes sense.

The reason I think debt is bad is because I have read that leaders raise debt, then they disproportionately use the funds to enrich a few select people, who in turn make sure the leader stays in power. While the burden of interest payments and the repayment of the debt falls on the average people. I think that when this is the case, then debt is a bad thing. I mean I am not naive enough to believe that leaders raise debt to actually benefit the public.