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by emaginniss
1113 days ago
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The money the government spends or forgives still goes on the balance sheet and will either come due at some point, or will result in the default of the US Treasury. That would be like me saying that spending crazy amounts of money on a new sports car doesn't matter because I have a huge line of credit. Eventually, that money for the car needs to be repaid. You can absolutely see examples of this in city and state governments in the US that have failed to make pension payments. Kicking the can down the road will eventually catch up with someone. https://www.detroitnews.com/story/news/local/detroit-city/20... |
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