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UnevenEdge
Commander McBelch

Macro budget vs. Micro budget

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Macroeconomics is most definitely not the same as microeconomics.

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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.

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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.

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Lol

I didn't know Ancient Rome defaulted on its national debt.

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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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