What happens when a nation's government gets so far into debt that no lender will loan any more money to that government?
What happened to Greece in the last few years when it's government could no longer borrow money? What happened to Germany when it's government could no longer borrow money during the Great Depression?
Actions have consequences - whether those be the actions of individuals, businesses, or even governments.
Economics is the study of the consequences of choices - the consequences of actions.
What happened to Greece in the last few years when it's government could no longer borrow money? What happened to Germany when it's government could no longer borrow money during the Great Depression?
Actions have consequences - whether those be the actions of individuals, businesses, or even governments.
Economics is the study of the consequences of choices - the consequences of actions.
"The federal debt officially surpassed $20 trillion for the first time on Friday, as the debt subject to the legal limit set by Congress jumped $317,645,000,000 in one day--following President Donald Trump's signing of a spending-and-debt-limit deal that will fund the government through Dec. 8.
At the close of business on Thursday, Sept. 7, according to the Daily Treasury Statement for Friday, the total debt of the federal government was $19,844,587,000,000 and the portion of it subject to the legal limit set by Congress was $19,808,747,000."