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
Well, it depends on where you live. If you live in Greece, then your national debt is pushing your government into austerity plans that will cut public services so that the government can pay higher priority bills, like the police.
If you live in the US, it’s all about taxes (for now). Interest rates have gone up recently (hopefully your mortgage is from a few years back). These higher rates mean the government is spending more of your taxes on interest than on services you might like (like building roads). Eventually, the government will need more money, and your taxes will go up. If not, see above about Greece.
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