uit n artikel v PBS News Hour over US national debt:But in light of its large debt, can the federal government really afford more spending?
The national debt represents the accumulation of past deficits that the federal government has run, pretty much continuously, since 1931. Prior to that, surpluses were much more common, apart from the years following the Civil War.
But its size is not a problem. The amount of government debt simply reflects the timing of taxes. Higher spending and lower taxes today mean more borrowing that will need to be paid off by higher taxes in the future.
Not everyone will be happy about that, and the government’s resources are not unlimited. But because the economy grows over time, collecting those future taxes make spending today affordable.
In addition, the $23.5 trillion figure, while large, is a bit misleading because $6 trillion of this is owed to other government agencies like Social Security. While that’s real money, it’s a bit like owing your spouse.
//zoek de essentiele zinsnede, die alles zegt over de amerikaanse denkwijze. Ik zeg niks.