Matthew Yglesias implies national debt is no big deal because companies borrow all the time

The last time we checked in with Slate economics writer Matthew Yglesias, he was discovering the problem of long-term unemployment.

Now the wunderkind is back with another great insight. Companies go into debt quite often. Therefore, Yglesias implies, there clearly is no reason to worry about government debt.

Wait. What?

And there is supergenius Matt Yglesias, comparing government to business and pretending the reasons they go into debt are the same.

— Nathan Wurtzel (@NathanWurtzel) March 13, 2013

.@mattyglesias He would also know that negative cashflow affects payroll eventually.

— Melissa Clouthier (@MelissaTweets) March 13, 2013

Successful ones don’t stay there MT @mattyglesias: I wish Mitt Romney were around to explain to Republicans that businesses go into debt…

— Dan Isett (@DanIsett) March 13, 2013

@mattyglesias But not 81% of the GDP debt, and not perpetually over 50 years. Thats a crazy analogy.

— Mark Davin Harris (@markdharris) March 13, 2013

@mattyglesias do businesses that borrow 25% of their total revenue every year survive long?

— PoliSnark (@polisnark1986) March 13, 2013

@mattyglesias I wish someone would explain that government isn’t a business. You can’t fire citizens.

— Kent Anderson (@kanderson) March 13, 2013