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National Debt

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Re: National Debt

Postby Smouldering Stoat » Thu Jun 01, 2017 12:41 pm

If I borrow £100 from you, and repay the £100 I owe you, I have repaid that debt regardless of whether I have borrowed a different sum from elsewhere. From your point of view the debt has been repaid. You are falling into error by only looking at the issue from the debtor's point of view.

That is why we are able to borrow cheaply, because we always repay our debts and are therefore a good credit risk. Indeed, in recent years the Government has reduced the cost of its borrowing by repaying it and refinancing at cheaper current rates.
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Re: National Debt

Postby Russell » Thu Jun 01, 2017 12:44 pm

The discussion is on overall debt, and you are more than aware that this is the discussion. Robbing peter to pay paul doesn't solve anything in the long term.
If you can't talk about the problem, how are you ever going to even start talking about the solution?
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Re: National Debt

Postby Smouldering Stoat » Thu Jun 01, 2017 1:06 pm

No. You're in no position to make demands that people only discuss the precise aspects of an issue that you want to. That's not how debate among grown-ups works.
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Re: National Debt

Postby Labrador » Thu Jun 01, 2017 1:21 pm

Whose making demands?
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Re: National Debt

Postby Russell » Thu Jun 01, 2017 1:52 pm

Lol SS I'm sitting here shaking my head. This is a classic thread but for all the wrong reasons.
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Re: National Debt

Postby diy » Thu Jun 01, 2017 2:54 pm

Yes it can be repayed as long as the assets exceed the debt and debt is pinned to the currency. Whether its right to burden future generations with the excess and lack of provisions and artificial wealth of the baby boomer generation is a different debate.
My suggestions are not legal advice
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Re: National Debt

Postby Russell » Thu Jun 01, 2017 3:36 pm

Do you agree that to make a repayment of the debt the government needs to run a surplus?
If you can't talk about the problem, how are you ever going to even start talking about the solution?
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Re: National Debt

Postby diy » Fri Jun 02, 2017 9:21 am

No - because unlike a regular debt the govt controls its currency.
My suggestions are not legal advice
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Re: National Debt

Postby Russell » Fri Jun 02, 2017 1:53 pm

DIY can you explain why that matters to this degree?
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Re: National Debt

Postby Russell » Fri Jun 02, 2017 1:54 pm

Do you mean to print it?
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