me: >> But there's the other side of the issue, i.e., how the borrowed money >> received by selling the bonds is spent in the first place.
Doug: > In other words, the allocation of funds in the present. A society as a whole > can't save for the future the way individuals can. Yes, we've largely pissed > away the proceeds of the borrowing, and probably reduced future incomes as a > result. But that doesn't change the fact that the benefits will have to be > paid out of future incomes, not today's savings.< exactly. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
