[quote=harvey][quote=FlyerInHi]If you could live forever, you would never pay off your debts either. You would keep on rolling over your debt and increase it as your income increases. You would have unending increases in standard of living.[/quote]

Good points.

A common misconception about government debt is that it eventually must be paid off down to zero. This is not true.

The size of the debt is irrelevant. The only parameter that matters is the cost of the debt. And cost is relative to many things.[/quote] I don’t think it is irrelevant. How can it be since it is part of the equation. Moreover, since the cost to service it is variable that would seem to make a strong case to keep debt to manageable levels.