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A comment on The Old Are Eating the Young. Parent comment

Re:The Old Are Eating the Young by tdeck on Wednesday June 14, 2017 @03:55PM (#14555585)
> When a government issue debt they are creating financial assets that allows the private sector to operate. An interesting mental experiment is to think in what would happen if all the governments pay all the 'debt' and stop spending.

There's a great Planet Money about this, and what happened when the US paid off its debt in 1835:

http://www.npr.org/sections/money/2012/08/07/158376579/episo...

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Re:The Old Are Eating the Young by tdeck on Wednesday June 14, 2017 @07:39PM (#14556874)
So I listened to this again and I feel compelled to update that it's merely a good Planet Money, not a great one. Not as much detail about the issue as I'd remembered.
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