What is the importance of understanding debt today


Problem: We've talked about how money is spent and how deficits are connected over time. What is the importance of understanding debt today and how this influences the government's decisions for outlays and revenues for tomorrow (in the future)? Then think about this...Can the government borrow (or run deficits) forever? In other words, can the government max out their "credit card?" Why or why not? Support your answer with examples and/or current events to support your argument.

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Microeconomics: What is the importance of understanding debt today
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