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Government Deficit Fueling Growth or Inflation?
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Government Deficit Fueling Growth or Inflation?
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Steve Keen considers the following as important:
This could be interesting, too:
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| Government Deficit Fueling Growth or Inflation? |
So when Chalmers (Australian treasurer) said that we had a trillion dollar debt that we have to pay down and wants to get a goverment surplus, he means he will cut spending in the private sector making all of us poorer.
When the government talks about national debt, is that money that it owes to itself?
yes paying down the debt will in general make everybody poorer.
the national debt is just money they created that they have not taxed back, so we use it as savings for a rainy day or to spend on things we want.