Economic Collapse

[Justified]

The real story behind America’s new $20 trillion debt

https://www.sovereignman.com/debt/the-real-story-behind-americas-new-20-trillion-debt-22387/

The national debt is now $20.1 trillion. That’s larger than the size of the entire US economy.

If the economy grows rapidly, tax revenue will increase. And the national debt, at least as a percentage of GDP, will start to fall.

Here’s the problem: the national debt is growing MUCH faster than the US economy. In Fiscal Year 2016, for example, the debt grew by 7.84%.

Yet even when including the ‘benefits’ of inflation, the US economy only grew by 2.4% over the same period.

In other words, the debt is growing over THREE TIMES FASTER than the economy. This is the opposite of what needs to be happening.