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cojoco · 4337 days ago · link · · parent · post: Assets and liabilities and equity, or, why the public debt is not bad
> Why would you want taxpayers to service the debt? Why that, rather than rolling over the debt and allowing it to grow? Keep in mind, if inflation is your answer, then that's an uphill battle. But inflation has been kept low for decades. That makes the task of paying off a home mortgage, or a government debt, very difficult. > Why that, rather than rolling over the debt and allowing it to grow? I believe the Federal reserve receives these interest payments. This represents a huge income for private banks to give the government the liberty to borrow money as it pleases. I really can't see the point of having the private banks in the middle to receive this interest. What does this accomplish other than the enrichment of private corporations?