You're sorta right. The economies of sovereign nations are not particularly similar to small households, however continuously incurring debt without raising significant revenue will kneecap a country's economy (eg the UK). Rather than focusing exclusively on debt the IMF should be strongly encouraging countries like the UK to drive up revenue by all means. The most obvious way of doing this is by raising taxes. The IMF is, however, in the thrall of big money which is fundamentally opposed to tax's.
this post was submitted on 23 Oct 2024
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