Tuesday, May 19, 2020

Debt Is Exploding Worldwide


And this is truly frightening! On the US Debt Clock website, at the top right corner, is a link called Debt Clock Time Machine. This link gives the viewer the amount of US debt for a specific time frame, both in the past and the future. When I clicked on the link to calculate the amount of US debt for the year 2024 -- less than four years from now -- is showing that based upon our current spending, we will have $43.6 trillion of debt. That is truly unsustainable!
Note: Update -- Two days after I posted this figure, it was updated to $44.1 trillion. It's rising even higher!