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One thing to keep in mind is that government debt is private sector savings. The money in your bank account originated as government spending or private sector
by mempko 8y ago
One thing to keep in mind is that government debt is private sector savings. The money in your bank account originated as government spending or private sector borrowing. All money is debt. If the government pays back it's debt, it will make it impossible for you to be solvent. If there was no government debt, there would be no money.
The US government was in debt since this country started, and will remain in debt in the future. The government being in debt is no problem, it's not a household. Government debt is not a problem, private sector debt is.