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

Well, if you subscribe to Modern Monetary Theory, then nothing. If the US has a debt, they can print the money to cover it. I guess, the biggest impact is inflation.