I just read the back cover of this book (in French since I am French). If I understand the general idea of this book, a deficit is not a problem. I think you'll have to explain that to the Greeks, for example, who were strangled by the IMF because of their deficit. And certainly, when you're the United States and you've got the whole world financing your colossal deficit with the dollar, an abysmal debt is nothing.
How about being a little serious, don't you think?
Reading the back cover of a book isn't even the Cliff Notes version of what's inside. You have just flaunted your intellectual laziness.
No country can fail to cover its debts if they are in their own currency. The problem that Greece faced was that their debt wasn't in their currency, drachmas, but in Euros, which they do not control.
Moreover, the US debt and the deficit are not the same thing.
Maybe if you strained yourself actually to read a book, you'd learn something.
I just read the back cover of this book (in French since I am French). If I understand the general idea of this book, a deficit is not a problem. I think you'll have to explain that to the Greeks, for example, who were strangled by the IMF because of their deficit. And certainly, when you're the United States and you've got the whole world financing your colossal deficit with the dollar, an abysmal debt is nothing.
How about being a little serious, don't you think?
Reading the back cover of a book isn't even the Cliff Notes version of what's inside. You have just flaunted your intellectual laziness.
No country can fail to cover its debts if they are in their own currency. The problem that Greece faced was that their debt wasn't in their currency, drachmas, but in Euros, which they do not control.
Moreover, the US debt and the deficit are not the same thing.
Maybe if you strained yourself actually to read a book, you'd learn something.