Paying off debt isn’t spending?
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So can we stop blaming this for inflation?
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Paying off debt is literally spending money.
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But it doesn’t stimulate the economy with new purchases which is the intent of the government.
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That's good, not enough people have savings.
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And everyone who pays off debt never gets into debt again, ever.
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Paying off debt is still spending the check though
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There was literally a side plot in The West Wing about stimulus money and how most people (like Charlie in the show) pay off debt or put that money in savings for a rainy day.
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