re: #114 KingKenrod

If a household could borrow 30 year money @ less than 3% and knew future income would grow faster than that, then running up the credit card would be a no brainer as long as you spend the borrowed money on essentials or investments (like infrastructure) with a good rate of return…

also - and somebody check my arithmetic - since the normal percentage of the annual federal budget outlay spent on debt service is about 6%, and the united states never seems to pay down the principal, the amount due on the national credit card per year would be $2,292. however, this hypothetical family only has an income of $21,700, and the median family income would be around $55,000 - so, a more realistic estimate of the impact of the debt on our national family budget would be more in the $9,000/yr range, which would make it considerably less than typical mortgage + credit card operating expenses for a family