Question: Currently, the U.S. national debt is over 20 trillion. Many people feel that the high level of debt is a very bad thing and that it should be paid off.
a. Please, list and explain 3 advantages and disadvantages of eliminating the national debt.
i. what would we do if we do not have national debt?
ii. what would we be saving if we had no national debt?
iii. where would the money to pay off the national debt come from?
iv. what would it cost us to get the money?
v. what can we lose if we pay off all of our national debt?