Business Commentary: It is time to talk about our national debt
Last updated 9/12/2019 at 12:29pm
Our nation is on an unsustainable borrowing trajectory and it could get much worse unless voters start asking politicians: “How are taxpayers going to pay for what they promise!”
We now owe over $22.5 trillion to lenders of which nearly half are off shore. (China $1.11 trillion). At the rate which we are selling treasury notes, the deficit will balloon to $24 trillion by 2020.
That means when the presidential election rolls around next year, each taxpayer’s share of the debt will be $183,000 if nothing is done and if politicians keep their campaign promises.
During the 2016 pre...