Can The Government Work Without Debt?
Kyle asks an almost unbelievable question ... can the government function without going into debt?
QUESTION: Kyle wonders if it’s possible for a government to function without debt. Does Dave know any examples of a state or national government that is run debt free?
ANSWER: Our national government was debt free for many years. It is certainly possible to be run debt free and with a balanced budget. Our state of Tennessee has a mandatory balanced budget law. All you have to do is balance the budget and you have no debt. Live on less than you make. The government shouldn’t get involved in things it can’t pay for.