Lets make fun of Obama while he is still relevant.

[Mikebert]

(12-04-2016, 05:15 PM)Warren Dew Wrote:

(12-04-2016, 10:27 AM)Mikebert Wrote: Warren, I do not understand why you seem to want a much bigger federal debt/GDP ratio. 

If you want to understand, please first reread my post on how it has worked in Japan, including the two links to my livejournal.

Here’s the problem with your analysis:

"However, economic output is limited by the falling proportion of the population still working, so the average living standard the economy can sustain for the population as a whole cannot keep up."

This is nonsense. GDP per worker has been rising for 200 years in America and for more than a century in Japan.  It’s called the industrial revolution.  If there were a retiree population that was receiving a fixed output with a shrinking working population then this would constitute rising economic demand per worker, which translates to rising GDP per worker.  GDP is simply another term for the net sales of the collective firms in the economy.  This is why they call GDP construction “national accounting”.  You are a frickin’ engineer, do the mass balance! Didn’t they teach you in school to first write down the mass and energy balances, then solve the problem?