“National debt” obscures the practical consequence. National debt is just money that has been added into the economy but not taxed back out.
It’s not necessarily bad to ramp up spending, if that new money has somewhere healthy to go. (Mega projects like Medicare For All or the Green New Deal would be prime candidates.)
“National debt” obscures the practical consequence. National debt is just money that has been added into the economy but not taxed back out.
It’s not necessarily bad to ramp up spending, if that new money has somewhere healthy to go. (Mega projects like Medicare For All or the Green New Deal would be prime candidates.)
So where did it go?
Well, take a look at Reagan’s reign from 81-89…
There’s the problem.
…and this chart stops at 2012