Originally posted by 98CoupeV6
What does the debt actually mean to us as citizens? I've read little to nothing. Just a number :dunno:
That's money that the government has borrowed. Raises the prime interest rate, for one. Also, it decreases the amount of money available from public and private lenders.
Third, since a lot of that money is heading to Iraq these days, you can't even argue that it's money that we "owe ourselves," as the government isn't borrowing to make domestic purchases.