Like how does it affect the average citizen on a day-to-day basis?
Why do we have a national debt in the first place (as presumably the richest country in the world)? Who lends us the money, and do we have to pay them back?
Also, as I understand it, we can’t really get rid of the national debt, but we can slow down the amount of spending. Why does the rate of our debt accumulation matter?
If we’re already trillions in debt, what difference would it make at this point to spend indefinitely to improve our country?
In: Economics
Spending indefinitely to improve the country has its limits. See hyperinflation in the Weimar Republic.
https://en.m.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic
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