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Debt is different from deficits. I suppose you mean "trillion dollar debt". Note that deficit could be (or not) inflationary, but debt is the accumulate of mon
by RobertoG 7y ago
Debt is different from deficits. I suppose you mean "trillion dollar debt".
Note that deficit could be (or not) inflationary, but debt is the accumulate of money already spent in the economy.
- melling 7y agoNo I think he does mean trillion dollar deficit. The US deficit is over $1 trillion a year. The debt is over $23 trillion.
- anewhope 7y agoThere’s something fascinating about the previous comment. A knee-jerk rejection of the scale. I immediately suspected that commenter hails from somewhere in Europe. The scale is way different here, and in online communities that is often lost as people talk past each other. I think when solving problems there is benefit in thinking about what happens at several different scales.
- RobertoG 7y agoIt was certainly a knee-jerk reaction and totally my fault. I see the concepts of debt and deficit so frequently mixed that it's already in my muscle memory. Your knee-jerk reaction was half right, by the way: I'm somewhere in Europe where billions and trillions have different meaning.