[DannyTN]

Well, since you included state and local income, you need to compare that to the combined governmental revenues of $5 trillion a year.

$130T/$16T GNP = 8.1 Years. It's not great, but it's not "immediate pending dooom" either.

It's like having a mortgage 8 times your salary. Certainly a bigger mortgage than I would want.

On the other hand, our economy is currently seriously impaired. 25% of our people aren't working. Fix that, GNP goes up and the debt burden isn't as onerous.

[rmh47]

It's like having a mortgage 8 times your salary.

No, it's not.

A mortgage is a liability. It's counterbalanced by an asset, the house. Normally, you have some equity in the house as well.

There is no offsetting asset for these obligations of the Federal and state governments.