What is the National Debt?

In this episode of The Leftish Agenda podcast, host Eddie delves into the complex and critical topic of national debt. He starts by explaining what national debt is and how governments accrue it through the issuance of debt securities like bonds. Eddie then breaks down the reasons and implications of national debt, touching upon key aspects such as budget deficits, economic stimulus, and the nation's cyclical debt trap. The episode further explores the wider social and political ramifications of national debt and how it influences policy debates and public perception. Eddie also discusses debt management via controlling spendings, taxation, and monetary policy, before highlighting the significance of the Debt-to-GDP ratio as a measure of debt sustainability.