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Is the US headed for a Humpty Dumpty fall?
As a nation we just reached another alarming milestone, that being amassing $18 trillion of national debt. Most American’s cannot grasp the magnitude of 18 trillion, so maybe this illustration will help. If we spent a million dollars a day, it would take 50,000 years to pay off $18 trillion, not including interest payments. Yes, 50,000 years. Currently our annual interest payment is $231 billion. The Congressional Budget Office projects that our interest payment will rise to $799 billion a year by 2024. Anyone with a basic knowledge of budgeting knows this amount of interest payment is impossible to accommodate within our budget without dire consequences…Read More
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