I'm a high school student rather interested in the study of economics and I really needed to have a few questions answered as I've never had any teachers or mentors on the subject, just my own interest and some books. The first question I have is what is your opinion of Ray Dalio's model? If so, the basic premise there being because we borrow we have cycles, does the Government adhere to this as well? If it does, wouldn't it be in the opposite sense that the private sector does? The private sector has to cut it's spending at a time when debt burdens grow too high, but because this is true Government has to increase its spending. So, if this is true wouldn't the budget matter most in times of surplus? Shouldn't the Government pay off some of it's debt whenever the economy is stable enough to do so?
Or do we adapt a Post Keynesian view where apparently the Government never actually has to pay down any of it's obligations. It makes sense on paper but it really doesn't feel right whatsoever, I would just like the basic premise clarified, but thank you very much!
If at all possible I would like the answer to remain free of ideology, and stay as possible to what current practices typically are.
