Undernews is the online report of the Progressive Review. For 50 years, the news while there's still time to do something about it.
December 8, 2013
When we talk about the national debt, we tend to make no distinction between types of national debt. There is an immense difference between going into debt for capital investments like schools and bridges and going into debt to pay current operating costs. That's why a bank will lend you money to buy a house but not for dinner and a movie. Our national budget makes no distinction between buying schools and buying doughnuts. It should. - Sam Smith