This week, to start off “Ask an Economist” for the year, I have a question from Stan K. about the national debt. I’m happy to report that after asking for questions in early January, I have received the most ever. I look forward to working through all I can. Here is Stan’s question: Peter, I often bemoan the mess we have as our national debt climbs and interest on the debt becomes one of our biggest mandatory expenses. However, I was pontificating on this budget-busting danger to my wife, and she asked, “Who do we pay interest to, and how do we pay it?” My answer was pathetic. Can you help me out? So we have a question about the ever-growing US debt. Let’s look at who owns it and how it’s paid. How the Government Borrows Money
When the government borrows money, it does so in a different […]
Read the Whole Article From the Source: fee.org
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