$179,000 Each - In Debt

Debt and deficits don't matter--until they do. That which is unsustainable will go away.

Longtime contributor B.C. recently shared some eye-opening charts of debt in the U.S.The charts are self-explanatory, but I've added a few notes to highlight some of the key points.

Here is a chart of total government debt, local, state and Federal. For decades we've been assured by the delusional alliance of the Keynesian Cargo Cult and self-serving politicos that "deficits don't matter." Is adding debt while gross domestic product (GDP), wages, etc. are basically flatlined sustainable forever? Deficits don't matter until they do, and that will likely be a Supernova Model event of sudden crisis and implosion. When Escape from a Previously Successful Model Is Impossible (November 29, 2012)

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