I read your post and wihesd I was good enough to write it
Thanks for linking to Steve. But no tanhks for putting words in my mouth.Steves figures appear to be gross debt figures. Id prefer to see net ones.If I owe you $30 and you owe me $30, Steve would apparently have our total "debt" at $60. Wouldnt it be better to describe it as zero?As it happens the household sector as a whole is a net saver at the moment (a net repayer of debt). Debt neednt inexorably grow, for all sorts of reasons - some of which involve the fallacy of composition.The government debt graph makes this clear.