☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to news@hexbear.netEnglish · 7 months agoThe US national debt is at a record high. What happens if it keeps going?www.usatoday.comexternal-linkmessage-square4linkfedilinkarrow-up124arrow-down10cross-posted to: usa@midwest.socialus_news@lemmygrad.mlusa@lemmy.ml
arrow-up124arrow-down1external-linkThe US national debt is at a record high. What happens if it keeps going?www.usatoday.com☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to news@hexbear.netEnglish · 7 months agomessage-square4linkfedilinkcross-posted to: usa@midwest.socialus_news@lemmygrad.mlusa@lemmy.ml
minus-square☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOPlinkfedilinkEnglisharrow-up7·7 months agoI largely agree, but it is worth noting that national debt invariably ends up being used as an excuse to cut social spending. And that in turn feeds into society becoming ever more dysfunctional.
minus-squareFloridaBoi [he/him]@hexbear.netlinkfedilinkEnglisharrow-up1·7 months agoThe US’ debt is someone else’s asset. The more debt the more assets are in circulation.
minus-square☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOPlinkfedilinkEnglisharrow-up1·7 months agoThat’s only assuming that US debt is seen as an appreciating asset that’s worth holding.
I largely agree, but it is worth noting that national debt invariably ends up being used as an excuse to cut social spending. And that in turn feeds into society becoming ever more dysfunctional.
The US’ debt is someone else’s asset. The more debt the more assets are in circulation.
That’s only assuming that US debt is seen as an appreciating asset that’s worth holding.