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[–] 16 points 1 week ago (1 child)

It's a complex topic, but national debt is not the same as debt a person or even company would have. It's by design. How it's managed is another thing and where things go wrong.

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  • [–] 9 points 1 week ago* (last edited 1 week ago)

    Yeah, basically every government in the world has some debt that they just keep perpetually refinancing to have additional cash on hand. It's not a problem until you have other stuff go wrong (e.g. natural disaster, economic slowdown, lose a war, etc.) and your creditors get nervous, in which case it can become a real big problem really quickly,

    But still, you're arguably just wasting your government's power by not using debt/deficit spending, because government debt means paychecks for government workers or contractors and infrastructure or other services for your citizens that can effectively pay for themselves in the long term

    e; the punctuation was somehow even worse previously

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