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but imagine the exploding size of the interest on the debt - imagine a govt that can do nothing but service that interest (as in there is no money for funding anything else). I believe I read that the size of the debt has increased 40% under bushjr.
But that is a long term structural problem. The short term problems has to do with the national debt (someone has to buy it to fund it), the level of corporate debts, of financial sector debt, consumer debt, etc. - A tremor on anyfront could bring a whole lot of pain throughout the economy.
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