Commander McBelch Posted October 13, 2021 Posted October 13, 2021 They both work precisely the same way.
scoobdog Posted October 13, 2021 Posted October 13, 2021 Macroeconomics is most definitely not the same as microeconomics.
Commander McBelch Posted October 13, 2021 Author Posted October 13, 2021 1 hour ago, scoobdog said: Macroeconomics is most definitely not the same as microeconomics. Because you don't know big numbers.
Raptorpat Posted October 13, 2021 Posted October 13, 2021 It's inaccurate to compare the federal budget to a household budget; a household budget is built around the premise that the earner(s) will eventually retire/die and must settle all their debts in a finite period of time. 1 4
Raptorpat Posted October 13, 2021 Posted October 13, 2021 Also that's not what the debt ceiling is or how it works. 3
Commander McBelch Posted October 14, 2021 Author Posted October 14, 2021 17 hours ago, Raptorpat said: It's inaccurate to compare the federal budget to a household budget; a household budget is built around the premise that the earner(s) will eventually retire/die and must settle all their debts in a finite period of time. There are also major consequences for looming, out of control debts in both cases. For a household, it's loss of the house. For a government, it's the eventual inability to sustain itself, such as what happened to Ancient Rome.
scoobdog Posted October 14, 2021 Posted October 14, 2021 Lol I didn't know Ancient Rome defaulted on its national debt.
Commander McBelch Posted October 15, 2021 Author Posted October 15, 2021 5 hours ago, scoobdog said: Lol I didn't know Ancient Rome defaulted on its national debt. Its currency became so devalued that soldiers didn't want to fight, farmers abandoned their fields, tradesmen stopped working... Everything turned into shit.
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