The U.S.’ Debt $100 Trilliion
Of Unfunded LiabilitiesMauldin Economics explains the magnitude of total U.S. debt, how it is now just under 400% of GDP (includes private & business debt) .. "We have 95 million people not in the labor force. 15 million of them are not employed. That’s twice the number officially unemployed. We have almost 2 million prison inmates, 43 million living in poverty, 43 million receiving food stamps, 57 million Medicare enrollees, and 73 million Medicaid recipients - 31 million still remain without health insurance .. This U.S. debt total does not even take into account the over $100 trilliion of unfunded liabilities at local, state, and federal levels. These are going to have to be paid for at some point .. I bring up the size of the debt because unproductive debt is a limiting factor on growth. 10 years ago, it wasn’t that big of a deal. Today, it is. The more we increase our debt, the more difficult it is going to be to grow our way out of our problem with the debt."
LINK HERE to the essay