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Today's Western countries spend much more than they raise in revenue. This difference is the national deficit and the summation of the past deficits is
Today's Western countries spend much more than they raise in revenue. This difference is the national deficit and the summation of the past deficits is the national debt. If the central bank of a country can create an infinite amount of money from a big, black hole of nothingness, then why don't they create enough money to pay-off the national debt tomorrow?
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