Debt Sustainability
So, I’ve heard this term lately, and today was the last time before I felt I had to write about it.
Today, I’ve read this ….
Obama speaks to Greek PM about debt crisis
For his part, the president “reiterated that it is in everyone’s interest that Greece and its creditors reach a mutually-acceptable agreement,” the statement said.
As for the call with Merkel, the White House said she and Obama cited the need for “a durable agreement that will allow Greece to resume reforms, return to growth, and within the Eurozone.
It’s the most asinine phrase. It connotes an acceptable level of perpetual debt. This can never be a goal, or rather, should never be a goal. It will always be doomed to failure. It is, in essence, socialism. I suppose there is a notion in the theoretical world where a socialist state can exist without debt…
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The Delinquent Teenager
