The Future Debt of Debt

This chart reveals how the increasing federal debt has to be more than a mere economic issue and will become a moral issue for the United States if the debt continues to ratchet up at current rates. This Congressional Budget Office chart shows the cost of interest on the US debt in the “out years” as a percentage of GDP. Notice that the interest on the debt as a percentage of GDP exceeds Medicare and Social Security, two of our largest programs. I am not clear what the answer is, and I certainly shun any partisan solutions, but I am convinced that we must find compromises and solutions before the situation is beyond our control, if it is not already. The first step is to be clear on what caused our debt and who caused it. That’s the next posting.

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Comments
3 Responses to “The Future Debt of Debt”
  1. Tim says:

    Here’s my suggestion… quite profound: Cut spending and increase revenue 🙂

  2. Tim says:

    In all seriousness…debt against the future of others is in fact a moral issue, and one we need to get a hold on really quickly.

  3. BDO says:

    The national government owes $12 trillion and we, citizens, owe $13 trillion. So, who has a bigger spending problem? I am confident that if together we started staying away from debt, we would start electing those who would stay away from national debt.

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