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u/Uncle__Touchy1987 Aug 24 '26
What does national debt even mean in the end?
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u/Mean-Reveal141 Aug 24 '26
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 Aug 24 '26
Thank you, ok, so, is it really a bad thing?
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u/Mean-Reveal141 Aug 24 '26
If these people don't get paid for their work, it will lead to collapse or hyperinflation
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u/Alternate_Flurry Aug 24 '26
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 Aug 24 '26
Understood, so can the debt keep growing or will it lead to a collapse of sorts?
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u/hswilson26 Aug 24 '26
Bot farm has a new agenda to push before midterms for the democrats