There are essentially 2 kinds of debt [View all]
(or maybe more accurately, 2 poles on the debt spectrum).
One kind of debt occurs when you borrow a lot of money to take all your rowdy friends on a year-long binge and casino tour.
On a national level, this equates to going into the hole while building a military you don't need, fighting stupid wars, pouring Treasury money into bonuses for the bankers who already pocketed billions while gambling away your inheritance, etc.
The other kind of debt is where you borrow money to improve your house, get an education, and fix your car so you can get to work.
On a national level, this would equate to borrowing in order to put people to work building high-speed transcontinental rail, providing the whole country with broadband access, building a green energy network, setting up a true national health system, and similar things that will result in improving people's lives and healing the planet.
Conservatives always favor the former kind of debt, and progressives, the latter kind. Conservatives have this game of indulging in spending binges when in power, and then using the debt they run up as an excuse to prevent the progressives from creating the second kind of debt.
And I'm getting really fed up with this stupid game.
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