The concern that a large public debt may bankrupt the U.S. government is generally a false worry
Question:
The concern that a large public debt may bankrupt the U.S.
government is generally a false worry because
(a) the debt needs only to be refinanced rather than refunded and
(b) the Federal government has the power to increase taxes to make interest payments on the debt.
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Related Book For
Economics Principles Problems And Policies
ISBN: 9780073511443
19th Edition
Authors: Campbell Mcconnell ,Stanley Brue ,Sean Flynn
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