6 Thus, when the government runs deficits and accumulates debt, Ricardian consumers would save more to ensure that they or their descendants can pay the expected higher future taxes.
Consumers are afraid of the government going into debt.
mnli hypothesis: Consumers are afraid of the government going into debt. premise: 6 Thus, when the government runs deficits and accumulates debt, Ricardian consumers would save more to ensure that they or their descendants can pay the expected higher future taxes.