“The debt has increased 123 percent over the past decade as the nation sought to break free of the financial crisis and the tepid growth that followed. Total debt is now nearly 105 percent of gross domestic product, just shy of its highest level since World War II. The most recent Congressional Budget Office projections have the trajectory leading to a debt-to-GDP ratio of 150 percent by 2047, well past the point where financial crises typically occur. In addition, the budget deficit is likely to swell, with the CBO projecting an increase from 2.9 percent of GDP in 2017 to 9.8 percent in 2047.”
Read more: https://www.cnbc.com/2018/02/13/us-security-chief-calls-national-debt-a-dire-threat.html
Related posts:
Collected Quotations Of The Dread Pirate Roberts, Silk Road Founder
Supreme Court Rejects NRA’s Bid to Block Sunnyvale Gun Law
'Follow the Money': NSA Spies on International Payments, Banking, Cards
Google Approves Cyanogen’s Oppo N1 Phone
Family of Woman Who Led Cops on Capitol Car Chase Suing Police
Argentina Devaluation Sends Currency Tumbling Most in 12 Years
Bumpy year drags U.S. IPO listings back to 2009 levels
U.S. ex-DEA agent in unlikely new role with pot investment firm
Junk-Rated Borrowers Reap Rewards in a World of Negative Yields
China's State Press Calls for 'Building a de-Americanized World'
Norwegian student buys $27 in bitcoin in 2009, now owns an apartment
German Gold Stays in New York in Rebuff to Euro Doubters
Web Pioneer Marc Andreessen Keeps Faith, and Cash, in Bitcoin
Micropayments now ready to slash price of online news
Bitcoin Believers See a Role for Wall Street