Not “completely”. They spend into a deficit every year, which is partially financed with tax and partially financed with debt obligations. It’s more that any spending is paid for 50% tax and 50% “indirect inflation tax” later, or whatever the exact numbers are (I stopped keeping track).
Not “completely”. They spend into a deficit every year, which is partially financed with tax and partially financed with debt obligations. It’s more that any spending is paid for 50% tax and 50% “indirect inflation tax” later, or whatever the exact numbers are (I stopped keeping track).