not a brief or succinct presentation, but if you have the time to view it is interesting. if you dont, my summary is that running a deficit is NOT the same as running a household budget. that macro economics works very differently. a sovereign government with its own currency is not dependant on taxes or other forms of income. it can print its own money whenever it likes. it cant keep printing masses of money because it would cause inflation. healthy economies generally run a deficit, and this deficit does not place the countrys economic future in peril. you dont end up with a big debt that has to be repaid down the track or risk a catastrophic downward spiral. hey i almost sound like i know something about economics (which i dont). but i do heed what economists say, when they get airtime, over politicians.
Posted on: Sat, 20 Dec 2014 06:28:55 +0000