Freedom from National Debt

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The report portrays individual market revenue of key territories in each region. A comprehensive analysis of recent research, as well as technological developments in the market, are included in this report. When a government borrows money, it is basically if not literally borrowing growth and tax revenue from the future and spending it today. Said differently, national debt robs future generations of growth for the benefit of the current generation.

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Historically, when that spending has gone towards projects with long productive lives like roads, bridges or schools , it has worked out, but when the money is used for transfer payments, unneeded infrastructure as in the case of Japan , or non-productive activities like war, the outcomes are less positive.

Nations felt pressure to quickly repay debts accumulated during the war, but higher interest rates led to lower economic output, which in turn led to more protectionism. There is always a trade-off between taxes, inflation and spending when it comes to debt repayment. That debt has to get repaid eventually, and each choice has consequences.

Raising taxes reduces economic growth and tends to encourage corruption and economic inequality. Stoking inflation reduces the present value of money and harms savers.

Curtailing government spending reduces growth and can be highly destabilizing to an economy in the short-term. Debt also imperils growth through the crowding-out effect.

Freedom from National Debt

Sovereign debt issuance sucks up capital savings that corporations or individuals could use for their own purposes. Because the government is always the largest hog at the trough, other capital-seekers have to pay more for capital, and worthwhile value-adding projects may be abandoned or delayed because of the higher cost of capital. Along similar lines, because governments usually get a preferential price for capital and don't operate on a net present value basis projects are launched more for political or social reasons than economic return , they can effectively push companies and private citizens out of markets.

Relevance to Individuals While individuals and families cannot run their affairs like governments do they can't run an indefinite budget deficit, and it's not a good idea to declare war on a neighbor , there are nevertheless lessons here for individuals. Countries don't have to worry about having national assets repossessed, but people do. Individual debt can create problems that spiral out of control and destroy a person's ability to build assets or savings, leaving that person in a situation where he or she is forever working for the bank or other creditors and not for themselves.

Most importantly, individual debt limits options and flexibility.

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Many people have been unable to seek better jobs outside their communities because an underwater mortgage prevents them from moving. Likewise, many people cannot leave unsatisfying jobs because they are dependent on that weekly or monthly paycheck.

How Our Country's Debt Affects All Americans in the United States

While people free of debt can live their lives with a great deal of freedom, individuals buried under debt will find their options perpetually limited by what their budget, creditors and credit rating allow them to do. The Bottom Line Debt is neither good nor bad in and of itself. Just as a life-saving drug can be fatal at excessively high doses, so too can debt cause great harm when taken to excess. When it comes to national governments, debt is alluring, addictive and dangerous. Debt allows politicians and citizens to live beyond their means; pushing hard decisions down the road and allowing the government to buy goodwill through largesse.

Most Americans have to budget their spending habits monthly, weekly, or in some cases, even daily to make sure they have enough to get by.

When things become tight, people are forced to make cuts anywhere and everywhere they can just to get by. However, the government appears entirely incapable of or even remotely interested in adopting this true and tried practice. Instead, Washington spends excessively and winds up relying on China, our biggest creditor, to keep us afloat.

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While for the foreseeable future our two destinies are linked, Chinese expansion into Africa, South America and the Middle East may eventually change that. Instead of making cuts and balancing the budget, spending has increased.

Freedom Debt Relief at a glance

The ratio of debt to GDP averaged In , the ratio of debt to GDP reached

Freedom from National Debt Freedom from National Debt
Freedom from National Debt Freedom from National Debt
Freedom from National Debt Freedom from National Debt
Freedom from National Debt Freedom from National Debt
Freedom from National Debt Freedom from National Debt
Freedom from National Debt Freedom from National Debt
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