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When someone asks what happens if national debt, state debt, city debt keeps increasing? This. Teacher salaries will not rise. Counties and cities are already
by NTDF9 8y ago
When someone asks what happens if national debt, state debt, city debt keeps increasing?
This.
Teacher salaries will not rise. Counties and cities are already overburdened by existing liabilities and far too many bonds are junk. They just don't take in enough in taxes. When they start taking more in taxes, people leave.
This is how middle class erodes and social unrest begins.