The national debt has always been an imaginary bugbear. When compared against rates of inflation and the increasing gross tax revenue–it’s been a while since I’ve run these numbers–the national debt amounts to something similar to a car loan. It would take about five years to pay off and that chunk of it does get paid off. In those intervening five years, the nation acquires another “car-loan” of debt proportional to the rate of inflation and the rate of increasing tax revenue.
This analysis isn’t considering the trustworthiness of the United States’ credit. That’s another conversation.
The national debt has always been an imaginary bugbear. When compared against rates of inflation and the increasing gross tax revenue–it’s been a while since I’ve run these numbers–the national debt amounts to something similar to a car loan. It would take about five years to pay off and that chunk of it does get paid off. In those intervening five years, the nation acquires another “car-loan” of debt proportional to the rate of inflation and the rate of increasing tax revenue.
This analysis isn’t considering the trustworthiness of the United States’ credit. That’s another conversation.