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For Firefox users, there is media bias / propaganda / fact check plugin.
https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/
- Consider including the article’s mediabiasfactcheck.com/ link
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That's a weird question. All countries have national debt because that's the way governments work.
If the question was about how sustainable it is, then you should know that only Japan and Italy have worse debt to GDP ratios than the US. That means that whatever the ratio is for his country, it's more sustainable than what the US is currently doing.
People, especially people in the U.S., have this strange idea that a government should be run like a business or a household, with no debts. Except those do have debts.
Similar with our budget deficits. Both Republicans and Democrats constantly talk about needing a balanced budget "just like you do at home." But who has a balanced budget anymore? Almost everyone in the U.S. who isn't very rich or very poor is in debt.
Trump himself has an entire book about never spending your own money, and instead using debt to pay for everything while your own money earns you more money.
Almost like these maga people don't even read the books they claim to worship.
A more reasonable argument is we’re in too much debt, and it will eventually come due, regardless of current fashion.
To go with your analogy of household debt ….. there used to be a rule of thumb to keep your mortgage payments under 28% of income, and few other debts , until it was relaxed. Now you have people with debt payments exceeding 40%, even 50% of their income, making it difficult to pay for everyday needs. They’re”house poor”. At what point do we consider a country “house poor”
The U.S. was debt-free for one year. In 1835. It was a disaster. Unsurprisingly, it was done through the tyrannical rule of Andrew Jackson.
https://www.npr.org/sections/money/2011/04/15/135423586/when-the-u-s-paid-off-the-entire-national-debt-and-why-it-didnt-last