The Slow Death of the United States
For the first time since 1946, the total debt of the United States ($39.5 trillion) is greater than our GDP ($32-ish trillion). The interest on this debt is currently about $1 trillion per year, which is more than we spend on defense. This level of debt won’t create an explosion, but more of a slow burn. To service this debt, yields on bonds will go up, which means borrowing goes up, which means…
















