Genuine question, not trying to make a point: why would paying off the debt crash the economy?
“Genuine question, not trying to make a point: why would paying off the debt crash the economy?”
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Fair question. Think of it this way: Suppose that in your own household, you used your income to pay off a large debt instead of spending it on household items. Until you paid off that debt, would your own household be better or worse off in the short run? Remember, you stopped paying for many current household items (food, clothing, car, furniture, restaurants, repairs, etc.) to start paying off that large debt.
Until you paid off that debt, your household economy would be worse off.