JUST HOW BIG IS OUR US DEBT AND WILL IT EVENTUALLY BRING US DOWN?

Some economists justify the value of debt as a means to stimulate growth spending. But no economist on this side of sanity recommends that the United States maintain its present debt level. The figure changes by the minute but, as of this writing, our debt is $19.9 Trillion. So, by the time you read this, it  is accurate to say we have reached a historical milestone – the United States is $20 Trillion in debt.  There is another country that competes with us in terms of the amount of they are carrying – the problem is it really isn’t a single country, it’s 28 of them, the members of the European Union.

There is a way to pay off the national debt. That would require each family in the United States to write the government a check for $233,000. (That takes in current debt and proposed infrastructure spending.

Economics and conversation about debt is both complex and depressing. So let’s handle this subject in small slices and come back again to the subject soon.