Classical economists believe that government debt is not necessary for the econo

Classical economists believe that government debt is not necessary for the economy and it better to avoid debt at all costs. One person’person’s servings is another person’s debt. In terms of domestic debt, the savings of individuals or organizations are the government’s debt. Savings of individuals or firms can go directly into the productive sector. But if that savings is taken by the government itself and spent in unproductive sectors, it will not bring welfare to the economy but will have adverse effects. So according to classical economist government debt is not weightless.

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