Can anyone explain this national debt thing?
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Topic started by Richard H (tenstar)
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A topic from News & Current Affairs: Political
tenstarTue 25/10/11 21:33 |
 |
Forgive me but not being an economist I don't understand the national debt debate. News reports equate it to household finances - you can't spend what you don't have. But countries aren't houses and in a recession surely a country will spend proportionately more on welfare and stuff than during boom times. I mean we borrowed massive sums of money in the 1940's but didn't go tits up in the post war years? |
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