ICYMI, and for those keeping track, US Treasury reported Tuesday that total public debt has hit more than $22 trillion.
Wow.
Analysts say the climbing, and accelerating, debt is unsustainable. Others argue that if its denominated in USD and its US debt then not to worry!
Here is one of the former, Michael Peterson (link)
- "We already pay an average of $1 billion every day in interest on the debt, and will spend a staggering $7 trillion in interest costs over the next decade.
- In order to build the strong and stable future that we want for America, we must put our fiscal house in order and begin to manage our national debt."
Yikes.
