back to 1835!

[Carl Remick]

> Now, we sure as hell don't want to be running surpluses if a 
> recession hits,
> and I agree with Max and others than in an ideal world, 
> spending the money
> on job creation and social services would be preferable, but 
> given political
> realities paying off the debt and reducing payments to rich 
> bondholders does
> not seem like a terrible thing at the time when GNP growth is high.

Nathan's point seems well taken.  Given that we're living in a fool's
paradise and there is no appreciable demand for spending on job creation
and social services, what *is* the objection to paying off on the debt
until the (ever nearing!) recession hits?  Wouldn't this mitigate any
adverse inflationary impact of deficit spending when the recession does
occur?

Carl