Explaining US Debt
"It's the type of thing that should keep people awake at night."
Some folks just don't realize, comprehend, believe, etc. how large our U.S. national debt has become.
Here's a great primer:
The national debt is now slightly larger than the size of the entire U.S. economy, equal to 106 percent of the country's gross domestic product. Overall, the Congressional Budget Office (CBO) expects the national debt to surpass $30 trillion by 2028, as Medicare and Social Security costs soar to cover aging baby boomers. Outgoing Federal Reserve Chair Janet Yellen has warned that the country's growing debt load could eventually become unsustainable. "It's the type of thing that should keep people awake at night," she told Congress in November.
It's not good. At all.
Optimism for the America of our kids and grandkids is bleak.
Grace & Peace & Love to you all -
Matt
