Quote:
Originally Posted by OLD BOY
I see your pedantry has not gone away, jfman. Of course I understand the difference between the deficit and the national debt. 'Paid off' may not be the appropriate turn of phrase, but I'm sure that most people on here knew what I meant.
The deficit has now come down to manageable levels, which means we can start to actually reduce the debt rather than continue to increase it.
I don't know where you get the idea that I want to eliminate the role of the state. I have never said that. I believe in a mixed economy. However, the role of the state should be kept under control and should not be allowed to proliferate. There are things the state does well and there are things the privatised sector does better. We should use whichever method is more efficient.
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I’m not being pedantic for the sake of it, however if people don’t understand macroeconomic concepts it’s a reasonable stance to take that they don’t understand macroeconomics.
It’s much easier, and obviously accurate, to use the phrase “reduced the deficit” than introduce “paying off” as inaccurate terminology.
We aren’t reducing debt either. The national debt is the highest it has ever been.