Dr. Perryman explains why the government will take on more debt to keep the economy's structure in place.
The Congressional Budget Office is out with some new budget estimates with continuing very large increases in the deficit and national debt. What to do about it? Dr. Perryman explains.
According to a new report from the non-partisan Congressional Budget Office (CBO), the amount of federal debt held by the public is projected to exceed gross domestic product (GDP) for the first time next year. This assessment is consistent with current and projected patterns and, thus, likely to occur.
The US national debt has just topped $20 trillion. That's 20 million millions or $20,000,000,000,000. It's a large number, and people are (justifiably) concerned.