Beats me too. I think unfortunately that many people want the state to look after them and think for some reason that they are entitled to it. Welfare creates dependency.
How will 10% of gdp be needed to service federal debt for interest rates of double digits? Isn’t the existing debt already issued at much lower interest rates? Perhaps this is the case if we have so high interest rates for a quite extended period
Most government debt is short term T bills and duration is less than 3 years, so the "extended period" doesn't have to be that long, and deficits continue and will get worse. Debt service includes interest and mandatory principle payments when due. I think 10% of GDP is representative of the issue.
You do have a way with words. I enjoyed this article because of the way you slice through the BS. I especially liked the part of your family & your dad. This is also a keeper.
Beats me too. I think unfortunately that many people want the state to look after them and think for some reason that they are entitled to it. Welfare creates dependency.
How will 10% of gdp be needed to service federal debt for interest rates of double digits? Isn’t the existing debt already issued at much lower interest rates? Perhaps this is the case if we have so high interest rates for a quite extended period
Most government debt is short term T bills and duration is less than 3 years, so the "extended period" doesn't have to be that long, and deficits continue and will get worse. Debt service includes interest and mandatory principle payments when due. I think 10% of GDP is representative of the issue.
You do have a way with words. I enjoyed this article because of the way you slice through the BS. I especially liked the part of your family & your dad. This is also a keeper.