Level 10 (Government Debt)
- Government debt is the debt that runs the world
- It is funded by spending more than what is collected in taxes
- Investors and other countries buy government bonds as a way to make up the gap
- Countries have tools to manage the debt, such as printing money and setting interest rates
- The US national debt has reached over $34 trillion, which equates to over $100,000 per citizen
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Content Curator | Absurdist | Amateur Gamer | Failed musician | Successful pessimist | Pianist |
Just like income, debt has levels, and each level changes how you live, what you can do, and how much freedom you really have.
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