US debt exceeds 100 percent of GDP
The U.S. national debt crossed 100 percent of gross domestic product (GDP) at the end of March, with signs that it might cross the record of 106 percent of GDP reached immediately after World War II.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said the borrowing did not come from “a seismic global conflict, but rather a total bipartisan abdication of making hard choices.”
“It’s happened — the national debt is now larger than the U.S. economy, about twice the historic average,” she said in a statement reacting to the news.
“The higher we allow our debt to grow, the more we erode our own prosperity and that of future generations,”
“Rising debt compromises affordability by slowing income growth, pushing up interest rates, and increasing inflationary pressures. Debt squeezes our budgets with massive interest costs.”
“Our budget projections continue to indicate that the fiscal trajectory is not sustainable,”
https://thehill.com/business/5857998-us-national-debt-gdp/
how long can we continue doing literally nothing about this?
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Crnr2Crnr ·
