how can a country be in debt?
In: Economics
What’s debt?
Debt is when you ask a friend for $5 and you say “I’ll pay you back later”. Now you’re in debt.
Debt is when the government asks a bank for $5000000000 and it says “I’ll pay you back later”. Now the country is in debt. (Not just the government, because the debt is still there after the election)
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