Economic Tidbits


“US National Debt has crossed above $28 trillion for the first time, increasing $4.6 trillion over the last year. As a percentage of economic output (GDP), our national debt has never been higher, steadily increasing over the past 40 years from 31% in 1980 to 130% today…Why is the ratio going up? Simply put: we have been borrowing at a faster rate than the economy is growing—for a long time.” 28 Trillion and Counting, Charlie Bilello, March 3, 2021.

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