Why are most countries in debt, who do they owe, and what are the consequences? Why do they go into debt in the first place?
In: Economics
You don’t get paid every hour or every day that toy work, there is a lag between when you create immediate value as an employee until you realize that value in cash from a paycheck. Now amplify that out to a city, a state, a country. The deficit is not = to you owing your neighbor for fixing your fence. It’s many scales larger.
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