Welcome back to Frown Town! This week, Vee and J talk about the difference between sovereign debt and national debt, why countries take on debt, and how the American debt ceiling started.
Special thank you to FCON for loaning us their song Liquid Fury for our intro! Their bandcamp: https://fcon206.bandcamp.com/track/fcon.
Relevant Links:
The U.S. Debt Clock - https://www.usdebtclock.org/
U.S. Federal Spending and Revenue for 2020 - https://datalab.usaspending.gov/americas-finance-guide/spending/#:~:text=In%20Fiscal%20Year%202020%2C%20federal,that%20year%20(%2421.00%20trillion).
The Debt Ceiling: An Explainer - https://www.whitehouse.gov/cea/blog/2021/10/06/the-debt-ceiling-an-explainer/
What Happens in a U. S. Debt Default? - https://www.bbc.com/news/business-24453400
