Post
Topic
Board Economics
Re: A generation spends money, a lifetime pays it back.
by
Salahmu
on 22/11/2024, 18:29:26 UTC
The essence of modern economics can be summed up in two words: borrowing money. One generation spends, and the next spends a lifetime paying it back.

Those things normally happen on the political government were everybody wants to use the medium or the privilege they have to get or borrow any amount they can so that by the time they leave office those who will assume the office will be the ones to settle the debts, is actually bad because the money that would have been used for more meaningful things will then be use to settle up the loans which was talking by the previous government, for me I see it as an act of wickedness because the act will not only affect the new office but also the growth of people because empowerment will be difficult.