National Debt—Ticking Time Bomb

National Debt – Ticking Time Bomb

Craig Huey Economics, Government 0 Comments

The nation debt is unsustainable.

And you and your children … and your grandchildren will suffer

Today, the national debt is growing $2.34 billion per day.

In 2008, the national debt was $10.626 trillion.

Today, the national debt is:  $19.26 trillion.

Now the Congressional Budget Office (CBO) projects that the U.S. will continue to accumulate debt at unsustainable rates.

Federal debt by the government never exceeded 50% of the total economy or GDP.

Then in 2009, it spiked, growing to 75% this year

It’s headed toward 85% … and it keeps getting worse.

Just look at this chart:

national-debt-skyrocket-680

The indebtedness is nearly three times as severe a problem today than predicted by the CBO in 2008.

Maybe incompetence by the politicians? Yes.

Here are the three Presidential candidates’ stances on balancing the budget:

  Hillary Clinton Bernie Sanders Donald Trump
Balanced Budget Plan No No Yes

 

What are your thoughts? Email me at craig@craighuey.com.

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