> Federal debt doesn't matter beyond its relationship to taxes and inflation
Much like household debt doesn't matter beyond it's relationship to household income?
Much like household debt doesn't matter beyond it's relationship to household income?
Presumably it goes to some sort of goods and services. The employees pay income taxes. The businesses pay corporate taxes. And so on.
Similarly, when a business lays off 10,000 people, it's not their problem anymore. Whereas from a macroeconomic policy perspective, "everybody" is the government's responsibility.