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The Debt and Deficits in 6 Minutes and 34 Seconds

IMG Auteur
Published : December 05th, 2012
126 words - Reading time : less than a minute
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Category : Opinions and Analysis

 

 

 

 

John Green dispels many of the misconceptions about debts and deficits, along the way explaining why the current state of affairs is not a crisis, but could turn into one (h/t The Big Picture).




It’s still surprising to me to hear or read what is probably the most important misconception about government debt – that it all has to be paid off someday. In fact, I think former presidential candidate Mitt Romney used to talk about paying down the debt, like he was going to produce sufficient surpluses to have actually made a difference. The problem is that governments around the world have had a pretty good time in recent decades growing their debt (as a share of GDP) and, unfortunately, you can’t do that forever.

 

 

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