I think you’re missing the point.
Our national debt is about 15 times higher than our GDP.
It’s NOT like a person making $75k/yr and owing $6k. It’s much more like someone who owes $600k and makes $75k.
It’s out of control. Reckless.
I think you’re missing the point.
Our national debt is about 15 times higher than our GDP.
It’s NOT like a person making $75k/yr and owing $6k. It’s much more like someone who owes $600k and makes $75k.
It’s out of control. Reckless.
Fizz@lemmy.nz 1 week ago
Why are you comparing government debt to individual credit card debt. They’re not comparable.
The debt to gdp ratio for the us is not good but its not society ending.
MerryJaneDoe@lemmy.world 1 week ago
I didn’t compare the two. OP made this comparison.
I pointed out that the numbers were WAY underestimated.
History tells us that when a country starts to run up debt faster than it can pay it down, the government is likely to topple. Especially if it’s unwilling/unable to address the crisis directly instead of kicking the can down the road. Standard operating procedure in the U.S. is to walk out of budget discussions, ignore the problem, underfund and borrow money. Each year this happens, it should be a HUGE red flag to our citizens. Instead, its become the new normal. It is unsustainable.