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Article
Why We Should Never Pay Down the National Debt
UF Law Faculty Publications
  • Neil H. Buchanan, University of Florida Levin College of Law
Document Type
Article
Publication Date
1-1-2012
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.

Citation Information
Neil H. Buchanan, Why We Should Never Pay Down the National Debt, 50 U. Louisville L. Rev. 683 (2012)