Great article regarding how the federal debt is no problem today but could become a huge problem very soon and easily.
The public sector, particularly the federal government, has benefitted enormously from absurdly low interest rates
net interest – the cost of servicing the national debt – was only 1.3% of GDP, the lowest in about 40 years. For comparison, net interest was absorbing about 3% of GDP in the 1980s and 1990s.
In other words, loose money has created a temporary mirage where a massive increase in government spending appears to be an easy burden to carry.
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