What are the real-world economic consquences of a huge national deficit?

Question

I’m a middle aged dude with a family, own a house, have four kids, investments, all the adulting things.

However, I’m still not sure how a multi-trillion dollar national defecit seeps down to affect my day-to-day life

In: 492

Answer 1

There are a lot of complicated answers here. And surprisingly a lot of talk about how national deficits are not to be worried about.
I think that the “real world economic consequences” that you’re asking about are called inflation.
It squeezes everyone, but probably poor people the most.
If it gets out of control it obviously can be really bad times.