Why government debt isn't a problem

Joh Madden sent us a message saying he wants to understand, in simple terms, why the interest payments on public debt are not a problem. He points out how it is used to justify austerity because it intuitively makes sense to waste less money on paying interest. He wants to know why this interest is not a problem, and what if the money which the public owes keeps rising? Hosted on Acast. See acast.com/privacy for more information.