Are country’s debts and deficits a problem? This is a link to an Australian radio broadcast disputing it as a problem. Bill Mitchell is one of the authors of a new text called Macroeconomics and he is interviewed part way through the programme. [radio.abc.net.au]
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Feel free to reply to any comment by clicking the "Reply" button.We are over 22 trillion in debt. That is a huge problem! There is more debt in the world than actually exists. Who is funding us? Mars?
TheGreatShadow
Level 9
May 12, 2019
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Some amount of debt isn’t a terrible thing. We’ve had greater debt to GDP ratios in the past and survived. I think our recent tax changes are increasing the debt/deficit for all the wrong reasons.
Savings bonds and treasury notes are a secure investment in US financial stability- we’ve never defaulted on our debt.
The only time we’ve paid off our debt under Andrew Jackson, the lack of a safe, secure investment vehicle resulted in the worst depress in our history.
Haemish1
Level 8
May 11, 2019
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Of course a country's debts and deficits are a problem.
LiterateHiker
Level 9
May 11, 2019
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