By Adam Sharp Most people seem to accept the fact that debt is piling up in an unsustainable way.
The federal government’s deficit for 2019 should come in around $1 trillion. That’s the equivalent of about 5.1% of our gross domestic product (GDP). And it will push the total federal debt to more than $22 trillion.
So we’re 10 years into this bull market, yet we’re annually adding debt equal to 5% of the entire economy. That’s crazy.
What will happen during the next recession? The deficit could easily climb to $2 trillion or $3 trillion. We currently pay around $500 billion in interest on that …read more
