Quote:
Originally Posted by Dondilion
Could you expand on manageable levels.
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I don't know how much debt the economy can carry. The question seems to raise a lot of argument. But out of an abundance of caution, I would make the goal to be debt growth on average equal to the rate of revenue growth, so that debt service as a % of GDP becomes constant.
As I noted before, there's plenty of space in the economy, compared to others, for increasing taxation, if we really wanted to erase the deficit and work on reducing the debt we could do it. It would get easier and easier to do it, once we got started, as the economy grew while the debt did not.