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cojoco · 4338 days ago · link · · parent · post: Assets and liabilities and equity, or, why the public debt is not bad
But interest must be paid on public debt, so that the larger the public debt, the larger the amount taxpayers must pay to service this debt. When the debt is in the trillions of dollars, surely the interest payments on this money are very large. I just checked WP: in 2008, 15% of the tax take went to service the public debt. Since then, debt has increased substantially, but interest rates are low.