A low, dishonest decade of debt

The Feds added $10.7 trillion in new debt in the decade just finished. In 2019, the total deficit was $984 billion. Uncle Sam took in a record $3.5 trillion in revenue but managed to spend $4.4 trillion.

With 330 million Americans, your share of the total $23 trillion in government debt is $69,000. Or, broken down differently, each US Household (as defined by the Census Bureau) ‘owes’ $177,000. That’s roughly equal to the median price of a single family home in Florida.

What will happen in the  ‘Roaring ’20s’? Bigger deficits–and that’s before a recession, which will lower tax revenues and result in increased spending–and a bigger debt. How will it be repaid? With inflation…and destruction of the dollar…