Depends.
While as a nation you can literally inflate your way out of a debt (who cares you need to pay 50% of your GDP as interest on your debts when next year that's only 10%?), it does horrible things to your economy. If you get that much deficit per capita spending, it's not long term sustainable, and it only gets worse when you are already at a high level of debt. Nation or not.
While as a nation you can literally inflate your way out of a debt (who cares you need to pay 50% of your GDP as interest on your debts when next year that's only 10%?), it does horrible things to your economy. If you get that much deficit per capita spending, it's not long term sustainable, and it only gets worse when you are already at a high level of debt. Nation or not.