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.
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
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.
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