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First, low levels of savings and high personal debt leave individuals exposed to falls in income or unexpected bills.
High levels of debt leave companies equally vulnerable in both cases, but society doesn't benefit if companies with long-term prospects cannot survive short-term setbacks.
Republicans said the plan would saddle the nation with unaffordable levels of debt, leave states with expensive new obligations, weaken Medicare and give the government a huge new role in the health care system.
The town supervisor, Philip J. Cardinale, says the ambitious resort project would pay off the town's debt, leave about $100 million in the bank and deliver a small percent of the resorts' gross revenue every year.
Early skeptics also worried about the tax implications of the plan: because debt cancellation is typically treated as income and can be taxed, could Strike Debt leave the people it claimed to help worse off than if it had done nothing?
Additionally, high levels of household debt leave the economy more vulnerable to overall shocks like a financial crisis.
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But British Telecom's $43 billion in debt leaves it little choice.
"Taxes and debt: Left and right dare to agree," with R. Glenn Hubbard, CNN Money website, September 19 , 2011
Student loan debt leaves them with less money for things like clothes and restaurant meals.
The country was awash in debt left over from the first world war; unemployment was high.
But the debt left by the boomers adds to the drag of slower labour-force growth.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com