Experts and laypeople (and the press) will go on and on and on about national deficits, but what exactly is it that they are afraid of?
It seems to me that the past decades have convincingly demonstrated that countries really can keep running up debts basically forever, and nothing particularly problematic ever actually happens, except in a few cases where the economy overall is in an extremely bad shape for a variety of unrelated reasons.
Can someone with more knowledge enlighten me what all the fuss is about?
It seems to me that the past decades have convincingly demonstrated that countries really can keep running up debts basically forever, and nothing particularly problematic ever actually happens, except in a few cases where the economy overall is in an extremely bad shape for a variety of unrelated reasons.
Can someone with more knowledge enlighten me what all the fuss is about?