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Anton Klein
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Hi Steve, I have been reading your blog for a couple of years and have learned much from you and others over that time. I am enjoying the discussion by those much more knowledgeable than me, but I do have a couple of questions: 1) While I agree that the SSA numbers might be conservative, who knows what will happen over the next 50 years or whatever. We could have unprecedented growth, trend, or below. No one knows for sure and I will happily sit on the sidelines during that discussion on who is correct. But is it not better to be conservative with growth rates here since overestimating growth would lead this great country to failure? 2) I had another question regarding interest rates on the government debt. The low interest rates we have experienced in recent history make our debt service easier, right? Wouldn’t an uptick in interest rates cause the same ratio of debt to become much more expensive? I realize that I only see the obvious moving parts here, but these and all other variables unbeknown to me leads to the same conclusion: Hope for the best and plan for the worst. By the way, I really enjoyed, The Origin of Wealth. Thank you for your recommendation. Anton Klein