US Debt Gaining Speed at Record Pace
Tax cuts, infrastructure projects, a wall, etc. are all great ideas for this country. They all come at a price. Without fanfare, the national debt is climbing faster than ever. First of all, 1 trillion is equal to 1 million millions. We surpassed 20 trillion in September 2017. Today we sit at 20.9 trillion a mere 6 months away.
How long did it take to get from 19 trillion to 20 trillion?
February 2016 - it took 19 months to go from 19 to 20 trillion dollars in debt. It looks like we are about to get a 21 trillion dollar debt level in approximately 6 to 7 months under President Trump's administration. He loves to talk about spending money. NO ONE wants to talk about how we will pay for it. Imagine this debt at the end of 4 years?
The great thing about spending money that you don't have is the facade it creates. Our politicians can create the facade of prosperity through all types of projects. They spend money that we don't even have. The problem is the bill comes due. When is almost 21 trillion dollars of debt a problem? Who knows...Politicians act as if this is our future generations problem. It might shock a few politicians to know that it might be sooner rather than later.