How important is it to address our national debt? – with Paul Ryan and Barry Eichengreen
You Might Be Right
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Why You Shouldn't Care Whether Our Currency Stays
We're already at 100% of GDP, which is because of COVID and other things. But the problem with our debt situation right now is being at 100%. We can borrow a lot of money and cash flow, all these government promises at low rates. And then the interest we pay on the debt when interest rates go up, then we have massive increases in payments on that debt. It's hard to get people to vote for this sort of stuff.
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