Re: How big is our national debt?

In Reply to: How big is our national debt? posted by Ed Gooding (VA) on March 15, 2024 at 05:46:51:

I think the US debt is about 120% of GDP. Broke is generally accepted at 100%, but ability to pay is a factor. We are also headed that way.
From memory, because I did not take notes. A 10% reduction in all Fed spending. Hold that level for ten years. The growing GDP should balance most everything in ten years.
BUT, and it will be an election issue. Who will vote for anyone who says they will cut Govt. spending.

Up here the Fed credit rating was downgraded the last time the liberals spent too much.
Not sure if the same rule applies in the US. No company federally registered, can have a higher credit rating than the Feds. That raises the cost of doing business for all large companies. A bit of a wake up call.

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• Re: How big is our national debt? - Ed Gooding (VA) 04:16:22 03/19/24 (0)

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