AND LET’s ADD TO TO THE ABOVE, THE FOLLOWING:
We have amassed an astonishing $5 trillion in debt in a single Presidential term. National debt held by the publicthe kind you have to pay backwill hit 74.2% this year and keep rising to 77.4% next year.
Economists believe that when debt to GDP reaches 90% or so, the economic damage begins to rise. And this doesn’t include the debt that future taxpayers owe current and future retirees through the IOUs in the Social Security “trust fund.”