America’s ‘Debt Spiral’ Is Nearing a Critical Threshold
Big Take
Understanding Deficit and the US Government's Debt
This chapter delves into the concept of deficit and the US government's debt, discussing its acceptability due to the country's global reserve currency status. It examines the impact of the financial crisis, the allocation of tax dollars towards interest payments, and the concerns regarding rising interest rates, as well as the effects of tax cuts and the COVID-19 pandemic on the economy.
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