Wed Jan 2, 2019, 03:17 PM

Yosemito (648 posts)

Professor of economics is no fan of PayGo rule

This expert sides with those House Democrats who are pushing against a "pay as you go" rule:

Link to tweet

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6 replies, 606 views

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6 replies	Author	Time	Post
Professor of economics is no fan of PayGo rule (Original post)	Yosemito	Jan 2019	OP
So what is the appropriate level of debt to GDP	exboyfil	Jan 2019	#1
What's the percentage now?	Yosemito	Jan 2019	#2
Around a 100 percent	exboyfil	Jan 2019	#3
That's the debt. The budget deficit is what matters	Yosemito	Jan 2019	#5
Deficit becomes debt	exboyfil	Jan 2019	#6
That's not a meaningful question, and it doesn't have a fixed answer.	PETRUS	Jan 2019	#4

Response to Yosemito (Original post)

Wed Jan 2, 2019, 03:20 PM

exboyfil (17,530 posts)

1. So what is the appropriate level of debt to GDP

100%, 150%, 200%?

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Response to exboyfil (Reply #1)

Wed Jan 2, 2019, 03:26 PM

Yosemito (648 posts)

2. What's the percentage now?

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Response to Yosemito (Reply #2)

Wed Jan 2, 2019, 03:34 PM

exboyfil (17,530 posts)

3. Around a 100 percent

It was around 30 percent when Ronnie came into office. Only Clinton has done anything about it.

https://fred.stlouisfed.org/series/GFDEGDQ188S

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Response to exboyfil (Reply #3)

Wed Jan 2, 2019, 04:53 PM

Yosemito (648 posts)

5. That's the debt. The budget deficit is what matters

Paygo is about the budget deficit.

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Response to Yosemito (Reply #5)

Wed Jan 2, 2019, 04:57 PM

exboyfil (17,530 posts)

6. Deficit becomes debt

That is what is important. All that debt has to be serviced.

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Response to exboyfil (Reply #1)

Wed Jan 2, 2019, 04:48 PM

PETRUS (3,678 posts)

4. That's not a meaningful question, and it doesn't have a fixed answer.

Also, per your comment in post #3, the debt reduction during the Clinton years is just one piece of a bigger story - a story that didn't have a happy ending, by the way.

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