Talked to a fellow today who claimed to not care one bit about America’s national debt. I think it’s grown large enough to cast a scary shadow over a fourth generation of citizens.
If you don’t care about our national debt, we might not have enough in common for me to be able to earn your support. Because that seems to me the 800-pound guerrilla in the room. As I told Karoun Demerjian, “Every $100-million that Washington borrows makes our world-stage competitors stronger compared to us.”
Historically, the US public debt as a share of GDP increased during wars and recessions, and subsequently declined. In recent decades, however, large budget deficits and the resulting increases in debt have led to concern about the long-term sustainability of the federal government’s fiscal policies.
To me, it is all about that sustainability.