Josh zumbrun federal government
Josh zumbrun federal government
Federal government today...
Wall Street Journal writers Josh Zumbrun and Nick Timiraos published answers to several of their readers' questions regarding the federal government's debt. Two of the
Question
Wall Street Journal writers Josh Zumbrun and Nick Timiraos published answers to several of their readers' questions regarding the federal government's debt.
Two of the questions were: "Why is government debt different from mine?" and "How important is it to pay off this debt?"
Source: Josh Zumbrun and Nick Timiraos, Q&A: What the $ Trillion National Debt Means for the US Economy," Wall Street
debt is different from household debt because
households cannot tax to bring in revenue and so will default if they can't make the payments.
government debt is much less important than household debt.
there are many more households than governments.
the government only has to make interest payments, but households have to make payments on the principal too.
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