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To clarify, I meant over the long term. If you're not making profits or at least breaking even over the long term (spending <= revenues), you're out of business.

The problem with the US is that they aren't just borrowing in a low season, they're borrowing every season.

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If my business could borrow at the same rates as the US government I would take on as much debt as possible, in perpetuity.

But you would properly build or create something with it.

That is the problem the US have -- they don't create anything.

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