Quote:
Originally Posted by Stu from NYC
The part that bothers me is the govt just keeps borrowing to spend money they do not have and has no intention of ever paying it back.
At some point it will be time to pay the piper.
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"Yes, debt has to be repaid when it comes due. But maturing debt can be replaced with newly issued debt. Rolling over the debt in this manner means that it need never be “paid back.” Indeed, it may even grow over time in line with the scale of the economy’s operations as measured by population or GDP."
Source:
Does the National Debt Matter?| St. Louis Fed
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Avalon, NJ, Captiva Island, FL, TV Land.
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