Question

In the economy, at the moment, the public debt is $60 billion. This year, tax revenue collected by the government this year is $15 billion and government outlays are $23 billion. There is a presidential candidate, Selina Meyer, promising that she will do her best to decrease the budget deficit and by 2025 it will be zero. One of commentators from the media said "According to Selina Meyer, our public debt will decrease by 2025." Is commentator's statement true or false? Explain your answer. A Paragraph Β Ι Ο ... A

Answer 1

It can be mentioned that it is very much impossible to decrease the public debt to zero this is because of the fact that you can now see the government outlets are quite more than that of the revenue and also considering the economy is actually expanding, the government must encourage the company's to expand continuous we show that the economy will grow as a result of which debt considered as a necessary component and if you try to make attempts in order to reduce the debt, the economy will start shrinking which is not a desired outcome all in all. This is the reason why the statement can be largely considered false.