TruNews – February 22, 2018
The president of the Federal Reserve Bank in Dallas is sounding the alarm over the current trajectory of the U.S. national debt, which is projected to grow to $30 trillion within a decade.
Robert Kaplan wrote, in an essay published by the government bank on Wednesday:
“Unfortunately, while the U.S. consumer has deleveraged since the Great Recession, business debt as a percentage of GDP has increased, and U.S. government debt levels have increased substantially. While increased business debt is likely manageable, U.S. government debt held by the public is now 75 percent of GDP, and the present value of underfunded entitlements is now approximately $49 trillion. There is a legitimate concern that the projected path of U.S. government debt relative to GDP is unlikely to be sustainable.”