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Absolutely not. This is not an individual liability. It is the country's liability. Just like employees in a company is not liable for the dept the company coul

• bluecalm 6y ago
  Yeah but the country will need to collect from you and your descendants to keep paying that debt. If it wasn't for that debt the country could leave more money in your pocket. The debt is basically yours as the money to pay it comes from your pocket. Employees can leave without any liability. You can't at least not without paying a huge cost both financial and personal.
  • paulryanrogers 6y ago
    It's not exactly the same as a personal budget though. The Fed can print money to pay back debt. Of course this just becomes an indirect tax as it leads to inflation since the amount of resources in the country/world doesn't change when printing.
  • tryptophan 6y ago
    True. There is a reason that ~400-500B$ is spent on interest each year by our wonderful government. That comes out of our taxes. Enough to pay for 40% of social security or medicare. 70% of the military budget. The expense we have from debt is no joke.