Chart of the Week 03 October 2014
A problem that the U.S. (and other developed countries) must address is the limits that are imposed by the amount of taxes that can be collected or the amount of money that is borrowed via deficit spending. If taxes are raised rhe economy is slowed as the lubicant of economic activity (money) is removed. If deficits are accumulated the debt is removed by “printing money” (inflation) or default, which is not something that the U.S. is ever likely to do.
National debt is discussed in the video following the Read more >> jump.