2 ms·
> The debt is higher than the GDP. My mortgage is higher than my annual income Unlike me a country doesn’t have an end of income date in sight either - it doe
by midasuni 3y ago
> The debt is higher than the GDP.
My mortgage is higher than my annual income
Unlike me a country doesn’t have an end of income date in sight either - it doesn’t retire.
- christophilus 3y agoThis is a valid point, but at some point a threshold is hit where you are basically doing nothing other than servicing past debt, and that would seem to be a real problem.
- peepeepoopoo5 3y agoTax revenue is a tiny fraction of GDP, so the national debt is already many multiples over income. The current $1 trillion annual interest payments on the debt are larger than the entire defense budget. Worse, annualized interest payments are still going up by about $200B per quarter.