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
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Weirdly enough (in the US) basically no impact. In fact, not having ENOUGH debt would actually be more of a negative impact on your daily life than “too much.” I would encourage you to think of “national debt” as “national investment.”
It really all depends on what we choose to spend our money on and how those investments pay out over time. Something like infrastructure spending for example is money we spend now which gets added to the debt, but the infrastructure we build makes money over time and that investment can easily pay itself back.
Giving billionaires a bunch of tax cuts on the other hand? Well probably not our best bet, they’ll hold onto it or improve Europe’s Megayacht builder market, so we should stop doing that please.
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