ECO 372 Week 4 DQ 2

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What are the potential consequences of a country having a large overall debt? If you were in the position to implement a solution for the country’s long-term debt, what would it be and why? Why do politicians have such a hard time implementing long-term debt reduction strategies?

Response :

One of the biggest potential consequences of a country having a large overall debt is that it will need to borrow more to cover the existing debet, yet it will be creating more debt in the overall picture. When a country has a large debt issue, there may be a point when that countries credit becomes junk and may need to file for a form of bankruptcy.
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