You've got camp 1 saying "you can go to 300% Gross Federal Debt to GDP without side effects/it's a new paradigm that history can't guide us on/there are no downsides to printed funny money/everything is fine/there's no risk of the US defaulting/spending 7% of tax revenue a year on interest on the debt"
and the other camp says it's going to lead to our demise, etc.
Will we ever see a surplus or breakeven in the next 10-50 years? Why should/shouldn't we? Is it worth it to target a surplus? Obviously it must not be because we're nowhere near it.
You've got camp 1 saying "you can go to 300% Gross Federal Debt to GDP without side effects/it's a new paradigm that history can't guide us on/there are no downsides to printed funny money/everything is fine/there's no risk of the US defaulting/spending 7% of tax revenue a year on interest on the debt"
and the other camp says it's going to lead to our demise, etc.
Will we ever see a surplus or breakeven in the next 10-50 years? Why should/shouldn't we? Is it worth it to target a surplus? Obviously it must not be because we're nowhere near it.