Deficit spending ALSO takes from the general population and then gives the very poorest, a form of redistribution.

Economists generally view held by the public (DHBP) is as the most meaningful measure of debt, because it reflects the amount that the Treasury has borrowed from outside lenders through financial markets to support government activities. At high levels, DHBP can crowd out private investments in the economy, make it more difficult to respond to economic crises, and increase volatility within the economy.