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|User Info||Prognostication: Here It Comes; entered at 2017-04-17 10:20:03|
Registered: 2007-07-13 Big Trees
The counterargument I've been hearing is this:|
The national debt about doubled under GW Bush, to about $10 trillion. Interest rates went down.
The national debt about doubled again under Obama, to about $20 trillion. Interest rates went down.
So, say Trump has 8 years, and in those 8 years the national debt about doubles again, to $40 trillion. Saying that interest rates will go UP is basically saying "this time it's different".
How do I respond? I have no idea how the US managed to quadruple its total debt load in 16 years while maintaining a strong currency and suppressing interest rates. So I don't know what to say to people who think this dynamic can continue.