Quote (JessiWan @ May 13 2023 09:38pm)

I see. That makes sense.

The reason I think debt is bad is because I have read that leaders raise debt, then they disproportionately use the funds to enrich a few select people, who in turn make sure the leader stays in power. While the burden of interest payments and the repayment of the debt falls on the average people. I think that when this is the case, then debt is a bad thing. I mean I am not naive enough to believe that leaders raise debt to actually benefit the public.

Quote (El1te @ May 13 2023 09:51pm)

Debt is also necessary and serves to benefit people who are not rich - otherwise, hardly anyone would be able to afford a home ever. With a debt (mortgage) it makes it possible

Quote (JessiWan @ May 13 2023 09:56pm)

Thank you for your input, however I think it's different from owning a mortgage. I mean, when they run a country, the annual GDP should be enough cover the nation's expenses. If not, then the country is not being run properly. It doesn't make enough money to maintain its programs. I think that we have been living with having a national debt for so long that it feels normal. But when you really think about it, it's actually a sign of bad management on the part of Potus.