Ten years ago the US federal debt was considered something to worry about. The Great Recession hit, and the expedient response was to bailout otherwise failed businesses and spend to stimulate the economy. The debt has risen from about 40% of GDP to 100% of GDP. The fundamental issues haven’t been resolved. Even the Congressional Budget Office labels the situation unsustainable. Unfortunately, the consequence of unsustainable debt is an unsustainable government. Change is inevitable, but which change will it be?
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