2 ms·
Those links simply back up that I was correct in saying that our government borrows money, and as a result we have to cover an ever increasing amount of interes
by yucky 4y ago
Those links simply back up that I was correct in saying that our government borrows money, and as a result we have to cover an ever increasing amount of interest payments which was around $1 trillion dollars last year - https://www.crfb.org/blogs/debt-rises-interest-costs-could-top-1-trillion https://www.crfb.org/blogs/debt-rises-interest-costs-could-t...
So where does that trillion dollars come from? We inflate it away from citizens by printing more money. And that trillion dollars is wasted on interest, it isn't used on any services for the citizens.
So yes, balanced budgets matter.