Term
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Definition
| if the treasury borrows money to pay off old debt, the interest rate compounds |
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Term
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Definition
| when the treasury borrows huge amounts of money, there's less money left for consumer and corporate loans |
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Term
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Definition
| when the treasury borrows huge amounts of money, it spends it, stimulating the economy and creating jobs |
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Term
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Definition
| Americans owing Americans (the treasury borrows mostly from Americans) |
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Term
| intragenerational transfer |
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Definition
| middle-class Americans paying the taxes which are owed to the wealthy Americans |
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Term
| intergenerational transfer |
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Definition
| future generations will pay debt that benefits current generations now |
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Term
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Definition
| high interest rates induced by large deficits increase the value of the dollar relative to other currencies |
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Term
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Definition
| US imports tend to rise; exports tend to decline |
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