Date: 2025-04-05 Page is: DBtxt003.php txt00025510
US ECONOMY
INCREASE IN THE NATIONAL DEBT
It keeps going up. Should it be stopped? Can it be stopped?
INCREASE IN THE NATIONAL DEBT
It keeps going up. Should it be stopped? Can it be stopped?
Increase in the National Debt by US Administration.
Original article:
Peter Burgess COMMENTARY
Very few people understand why there is a 'national debt' and what it is used for.
Many people, quite reasonably. think that national finance should be operated more or less like the family budget ... but it is not quite so simple. But worse, if a country was to be run like a simple household then the outcomes would be disastrous.
I had a formal training in economics around 1960 at Cambridge, and I have been trying to make sense on the global socio-enviro-economic system ever since. My interest over many years has been to understand how more of the benefit of modern productivity can become a bigger benefit for ordinary people ... that is the bottom 90% of the world's population. To me, the value of doing this is obvious, but the mechanics and the decision needed to make this happen are not quite so clear!
Peter Burgess