Prefer to bring it down to more managable numbers to really get a handle on how bad it is. Making the national debt a person.
This person has a $38,000 credit card bill.
They have income, but 51% of their income goes to paying interest only on the credit card debt.
Now, their income is reduced, as they won't be taking in as much money as before.
Lastly, they agree to add another $3,800 to their credit card every year of the next ten years.
We aren't going to grow out of this. Somebody's project is going to be wrong.
It is reported Republicans (they weren't individually named in the story I saw) believe GDP will grow to be in the 4-5% range.
The General Accounting Office is guessing 1.8%.
The only time over the last 8 year where GDP approached 5% growth was when the ecomnomy was first unshackled after the height of the pandemic.
It's like being locked into the world's worst student loan, with ever diminishing prospects of it actually ever getting it reduced ever, let alone paying it off.
8trackdisco wrote:
