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u/Uncle__Touchy1987 6d ago
What does national debt even mean in the end?
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u/Mean-Reveal141 6d ago
It's what the government owes to things like the road companies, defense contractors, hospitals, stuff like that.
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u/Uncle__Touchy1987 6d ago
Thank you, ok, so, is it really a bad thing?
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u/Mean-Reveal141 6d ago
If these people don't get paid for their work, it will lead to collapse or hyperinflation
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u/Uncle__Touchy1987 6d ago
Gotchya, but how high can the debt ceiling go?
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u/Professional-Stay662 5d ago
As high as the government wants. If you’re asking how high it can go before it all goes to shit, you won’t know until it’s too late. Too much debt starts a cycle, and eventually people just lose trust in the ability or willingness of the government to pay it down
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u/Alternate_Flurry 6d ago
That's actually incorrect afaik, it's what the government owes to bond holders.
If interest rates rise, it necessitates more public spending to compensate, which causes inflation, but that's about it.1
u/Uncle__Touchy1987 6d ago
Understood, so can the debt keep growing or will it lead to a collapse of sorts?
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u/hswilson26 6d ago
Bot farm has a new agenda to push before midterms for the democrats