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by yufeng66
1706 days ago
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This is a common misunderstanding. As a percentage of GDP, debt did go down. But the US government didn't actually paydown the debt. The debt notional more or less stayed the same. The ratio decreased due to GDP growth and inflation. https://fred.stlouisfed.org/series/FYGFD |
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Inflation, the magic silver bullet that makes a countrys' debt disappear.
At whose expense is of course the question.