Abstract

http://ssrn.com/abstract=2101811
 
 

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Why We Should Never Pay Down the National Debt


Neil H. Buchanan


George Washington University Law School

2012

University of Louisville Law Review, Vol. 50, 2012
GWU Legal Studies Research Paper No. 2012-56
GWU Law School Public Law Research Paper No. 2012-56

Abstract:     
Calls either to balance the federal budget on an annual basis, or to pay down all or part of the national debt, are based on little more than uninformed intuitions that there is something inherently bad about borrowing money. We should not only ignore calls to balance the budget or to pay down the national debt, but we should engage in a responsible plan to increase the national debt each year. Only by issuing debt to lubricate the financial system, and to support the economy’s healthy growth, can we guarantee a prosperous future for current and future citizens of the United States.

Number of Pages in PDF File: 16

Keywords: National Debt, Deficits, Fiscal Policy

JEL Classification: E6, H6

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Date posted: July 9, 2012 ; Last revised: July 19, 2012

Suggested Citation

Buchanan, Neil H., Why We Should Never Pay Down the National Debt (2012). University of Louisville Law Review, Vol. 50, 2012; GWU Legal Studies Research Paper No. 2012-56; GWU Law School Public Law Research Paper No. 2012-56. Available at SSRN: http://ssrn.com/abstract=2101811

Contact Information

Neil H. Buchanan (Contact Author)
George Washington University Law School ( email )
2000 H Street, N.W.
Washington, DC 20052
United States
202-994-3875 (Phone)
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