Right now, the United States is officially $20 trillion in debt. Over half of that $20 trillion was added over the past decade.
And it looks like annual deficits will be at the trillion dollar level sooner than later when projected spending is factored in.
Basically, the United States is going broke.
I don’t say that to be hyperbolic. I’m not looking to scare people or attract attention to myself. It’s just an honest assessment, based on the numbers.
Now, a $20 trillion debt would be fine if we had a $50 trillion economy.
The debt-to-GDP ratio in that example would be 40%. But we don’t have a $50 trillion economy. We have about a $19 trillion economy, which means our debt is bigger than our economy.
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JUst > WRITE IT OFF like Businesses do all the time !!!
ReplyDeleteQuit waisting $$$ every day !!!!
It will have to be either PAID OFF or WRITTEN OFF
ReplyDeleteAMerica .....Time to make your choice !!!!
An expert on TV news (FOX NEWS) said it CAN be PAID OFF
tomorrow , if the Govt wants to , since it takes in FAR more
than it needs from US ALL and has Plenty to do it NOW !!!
I wonder WHY , then, does not it happen ??? Wonder WHY ????
Govt solution is to just keep adding on more Debt and keep
ReplyDeleteKicking the Can down the road !!! Democrats OWN it