From the Archives: Debt and Health
In 2020, I wrote about how the debt had exceed 100 percent of our GDP and was at $20 trillion.
Today, just 4 years later, it is at $35 trillion. However, that doesn't include what the U.S. government has promised to pay in Medicare, Social Security, federal pensions, healthcare, and other liabilities. That’s a total of $154 trillion.
Even that doesn't include wars (e.g., Ukraine, Gaza, Iran), and natural disasters (e.g., hurricanes, and pandemics).
We take in total revenue of $4.4 trillion every year and immediately 15% of that goes toward paying interest on the debt. Increasingly, we are spending far too much for what we take in and, ultimately, we will be poorer and unhealthier. To read my post from four years ago, go here: