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Does it matter that our current national debt equals (approximately) $27 trillion? Does anyone benefit (or...

Does it matter that our current national debt equals (approximately) $27 trillion? Does anyone benefit (or lose out) due to this public debt?

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Answer #1

Yes it matters and it is a mattr of concern that the national debt is so high, in the coming days those debts need to be serviced in the market and along with interest the debt will increase even more, in that situation a large part of the government that should be spend on the welfare and other policy will be forced to spend on the debt servicing, this will reduce government expenditure on welfare of the people and force the government to collect more taxes. reducing the demand further and reducing the GDP.

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