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Wed Jan 2, 2019, 03:17 PM

 

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:


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6 replies, 606 views

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Reply Professor of economics is no fan of PayGo rule (Original post)
Yosemito Jan 2019 OP
exboyfil Jan 2019 #1
Yosemito Jan 2019 #2
exboyfil Jan 2019 #3
Yosemito Jan 2019 #5
exboyfil Jan 2019 #6
PETRUS Jan 2019 #4

Response to Yosemito (Original post)

Wed Jan 2, 2019, 03:20 PM

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

2. What's the percentage now?

 

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Response to Yosemito (Reply #2)

Wed Jan 2, 2019, 03:34 PM

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

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

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

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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