You’re 100% correct on every point regarding our financial situation, but I’d argue that that’s no reason to pull our heads into our shells like turtles. A robust and booming space industry will create wealth and jobs. And it’s a private sector space industry we need, not a government space program.
The young field of aviation did very well during the depression of the 1930s. There was considerable technological advance, and commercial airlines began sprouting up. There were even long-distance passenger flights over the ocean via the Pan Am Clippers. A depression does not preclude the development of space colonies.
Besides, wouldn’t it be nice to have someplace to flee if things really go sour? (For our descendants, at least. I’m probably too old myself.)
