This seems an odd statement to make since most persons view public debt as a monster to be confined and slain. However, reasonable enquiry reveals the opposite to be true. Once a community, that is a town, city, state, province or nation incurs a public debt, simple cost and benefit analysis confirms that it should never reduce or erase that debt.
One should bear in mind that I distinguish the act of reducing one’s debts from that of repaying one's lenders; For they are not the same.
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