Comments by "miraculixx" (@miraculixxs) on "ProfSteveKeen" channel.

  1. Well, you may be right in principal, but you are most certainly wrong in practice. Let's start with some facts: Governmemt debt must be paid interest. Money paid as interest is not available to be spent elsewhere. The only way the government can get money other than debt is by levying taxes and fees. That's it. Now if you keep increasing debt you will also keep increasing interest. That's an exponential function, i.e. it will reach a point where raising more debt means interest due implies raising even more debt. When the interest payments go beyond the level of taxes and fees + ability to rasie debt, the system crashes. Thus the debt must be reduced so that interest is reduced. The only two ways to avoid adding more debt, other than right-out defaulting, is by reducing spending levels, or by incressing taxes and fees. It should be both (e.g. tariffs and reducing gov spending). I don't agree with the way Trump/Musk go about doing it - it is inhumain and very badly communicated - but he is fundamentally right in that the US debt must be reduced.
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