Quote:
Originally Posted by GiggityGiggityGiggityGoo
Why do you keep peddling this lie?
Why is Spencer Harris saying cash reserves will be used to pay debts if they're aren't any?
Just seen you're other post, the fella doesn't know if he's coming or going.
|
You’re misunderstanding what is being said.
Deficit and debt are not the same things. Spencer said we’d be in deficit. He did not say we’d be in debt.
A deficit means that we would spend more money in one year than we would take in. It’s hardly a surprise that we’d run a deficit in the middle of a pandemic.
But, so long as your bank balance is bigger than the deficit, you won’t be in debt. You’ll just have less money than you did before.