"Chronic budget deficits mean ever-accumulating, unsustainable public debt." Do you agree? Explain why or why not. Make sure to address the following questions in your essay:

a. What is the relationship between public deficits and debt?

b. What is meant by "sustainable debt"? How do you know whether the public debt sustainable?

c. Is it possible for chronic deficits and sustainable debt to coexist? If so, how?

d. Is it possible for sustainable debt to transform into unsustainable debt?

e. How is the monetization of deficit related to debt sustainability?