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
Deficit means you don’t have the money to pay all the bills. Normal people cut spending and/or get a better job. When government runs out of money they usually vote to increase the amount loaned from the Fed. This money is not backed by anything and when added to the economic pool of dollars results in watered down value, 401K, and cash savings. Everything starts to get more expensive, then you need a raise to just to match the buying power you had before, which causes more things to get expensive. Rinse and repeat. FYI if you are in the US each of your lil kids already owes upwards of $90K to the government just by existing.
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