Comment by wrycoder
1 year ago
And, if you were to balance the Federal budget, you would inflate away 75% of the national debt in 50 years at 3% inflation. But, only a balanced budget amendment to the Constitution could accomplish that.
1 year ago
And, if you were to balance the Federal budget, you would inflate away 75% of the national debt in 50 years at 3% inflation. But, only a balanced budget amendment to the Constitution could accomplish that.
How are you calculating that? The national debt itself currently has an average interest rate higher than 3%.
"Balanced budget" presumably includes paying the interest on existing debt in the current year rather than recapitalizing it.