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In the discussion thread: Why Libertarianism Doesn't Work [View all]

Response to napoleon_in_rags (Reply #22)

Sat Dec 31, 2011, 11:43 AM

23. Yes,

What you're not seeing is how bad it is.

<...>

I was looking at a chart the other day, US debt to GDP ratio. It has this huge spike around 1944, WWII. Basically you had every aspect of everybody's lives locked up in the war effort: you'd carpool with all your neighbors to save gas for the effort, Lucky Strikes green had gone to war (and all kinds of products were effected) 16 MILLION people were in the military to fight, much more than today. Women working in the factories that had been converted to make tanks and planes. (Rosie the riveter) etc. And the whole thing funded by more debt than the country had ever gotten in, a GDP to debt ratio of over 100%. After that, the chart shows the fruits of the war effort and peace, as the debt declines over the next century. Until the present, where we now have national debt of 15 trillion and 14 trillion GDP, giving us a ratio of over 100% again, meaning that in terms of borrowing, we are now at WWII crisis level, with no end in site. No post war construction, no influence that comes from being the worlds only nuclear power, no plentiful resources and influence spanning half the globe. No magic bullets.

...it's bad, but how does that bolster the argument that making it worse is good?

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