The USA and Chin have the highest debt in the world but i don’t understand the concept of them being some of the wealthiest countries, does that debt need paying off? How do they get this debt? Ultimately it just doesn’t make sense to me.
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A person making $500,000 per year may own a $3 million dollar house. A person making $100K per year may have a $500K house. Neither of them pay cash, they borrow the money.
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