Debt and deficits

Annual shortfalls, accumulated debt, interest, and debt per person.

Issue discussion in preparation.

Principles

Borrowing moves payment into the future and creates debt-service obligations; it does not make spending free.
Ongoing commitments require a sustainable budget that includes interest, refinancing risks, and existing obligations.

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References

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What does borrowing to pay for spending create?

Future debt-service obligations and potential refinancing risks.

Funding with no future obligations.

An automatic reduction in accumulated debt.

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