you don't have to convince me that governments are doing dumb shit, but it's not because of debt. it makes sense to borrow when it's cheap. especially for a state. (because when it's cheap it means inflation is low anyway. and arguably when it's too cheap it's imperative for the state to stimulate the economy.)
a lot of things should be "illegal", but since voters don't care legislatures don't either. :/
the obvious problem is the ROI on that debt. (hence the usual opposition to financing rich folks' tax cuts with debt, or subsidizing projects that are not sustainable financially, giving money to wasteful municipalities, etc.)
it went down to 6-8 percent in 2016
it was not higher than 20 for a long time
you don't have to convince me that governments are doing dumb shit, but it's not because of debt. it makes sense to borrow when it's cheap. especially for a state. (because when it's cheap it means inflation is low anyway. and arguably when it's too cheap it's imperative for the state to stimulate the economy.)
a lot of things should be "illegal", but since voters don't care legislatures don't either. :/
the obvious problem is the ROI on that debt. (hence the usual opposition to financing rich folks' tax cuts with debt, or subsidizing projects that are not sustainable financially, giving money to wasteful municipalities, etc.)