"Andrew Jackson wasn't the first person to conflate the economics of a household with the economics of a nation." I know little about economics, not having had a class in economics since high school in 1958 (!). However, I do know that the fundamental difference between national debt and individual debt is that countries can print money; individuals can't (unless they want to go to prison).
While I understand comparing a nation’s debt to household debt isn’t comparable, can we know when the debt held by the federal government to itself and to foreign entities is too much? I know Japan by comparison has a debt of about 226% of GDP, the highest of amongst developed nations.
"Andrew Jackson wasn't the first person to conflate the economics of a household with the economics of a nation." I know little about economics, not having had a class in economics since high school in 1958 (!). However, I do know that the fundamental difference between national debt and individual debt is that countries can print money; individuals can't (unless they want to go to prison).
Okay so question,
While I understand comparing a nation’s debt to household debt isn’t comparable, can we know when the debt held by the federal government to itself and to foreign entities is too much? I know Japan by comparison has a debt of about 226% of GDP, the highest of amongst developed nations.
We will know when investors stop buying US bonds. At that point the market will have spoken.