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The government doesn't owe the debt, we the people do. We authorized & enabled the government to incur that debt on our behalf.
by PaulDavisThe1st 3y ago
The government doesn't owe the debt, we the people do. We authorized & enabled the government to incur that debt on our behalf.
- hamilyon2 3y agoThis is pretty non-mainstream macroeconomic point of view. It did not correspond to reality when latest sovereign debt default occurred in Greece. Then it was government, foreign banks who bought the debt and European Central Bank who was on the hook for restructuring, not citizens or general public.
- PaulDavisThe1st 3y agoWho was on the hook for the effects of the debt restructuring deal?