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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It doesn’t really directly affect your day to day live. There are two things that might indirectly affect you though.
First, there’s only so much money to borrow in the country. Every dollar that the government borrows has to be lent by someone. Usually that’s an investment banker. And if those investment bankers are loaning money to the government, that means that they’re not loaning money to a small business owner, or a large corporation, or a home buyer. This is a drag on the economy.
The other thing to watch out for is that eventually the powers that be are going to decide that the debt really does need to be addressed. That’s going to involve some kind of tax hike, or spending cut, or most likely both. That’s going to affect everyone.
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