one would believe that they are self-sufficient
They are self-sufficient. They know they will never pay it off. Any conversation around it is just political games.
But are they owing this much because of the many wars they engage in?
No. That is just a fraction of it. Most of it is because of how they run their economy to discount things to keep them consuming.
Good day.
This discussion just enlightened me more and change my perspective over the we view the developed countries. We from the third world country think that the more developed countries can borrow a dime.
On the issue of borrowing to subsidize their economy, that sounds fair to me. That means they are more citizen minded. They enter into that debt to make life easy and sustain their citizen. We lack such in our African region. In fact, they make us bleed while they amasse everything to themselves.
Thank you for this enlightenment.