Our Debt is Getting Scary | Time
From The Curious Capitalist:
“President Obama handled his first State of the Union pretty well on Wednesday evening. But overhanging his ambitious agenda is a darkening cloud of debt as we were reminded Thursday when the senate voted to raise the nation’s debt limit by $1.9 trillion. The CBO director recently noted that debt held by the public totaled $7.5 trillion, or 53% of GDP, at the end of 2009. Of perhaps greater concern, this frightening percentage only looks to get worse. By the end of 2020 the debt is expected to climb to $15 trillion, or 67% of GDP. America is a resourceful country but these projections are beginning to look scary.”
Scary? Its absolutely mind-numbingly terrifying. Or it would be if any of us could really wrap out heads around those numbers.
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