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Debt is a 4-Letter Word
Manage episode 421373438 series 3392107
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America has a debt problem. It's currently $34.7 Trillion and counting. It costs over $1 Trillion a year to service it. As a reminder, if you stacked $1 Bills vertically end-to-end from the ground to the sky, it would reach the Moon and nearly back to Earth. How about that for a visual? The Congressional Budget Office recently reported it expects US public debt to rise to 166% of Gross Domestic Product (GDP) by 2054. That's 30 years from now. It's currently 99% this year if you exclude the debt the Federal government owes itself. Including it, debt-to-GDP is over 120%...
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