It looks like Debt to the Public is about to hit $16 trillion, a nice binary number, within the next two months. It currently (11/19/18) is at $15.941 trillion. It hit $8 trillion on 3/1/2010, during the recovery from the Great Recession.
But when did it first hit $4 trillion? That would be 11/28/2003, according to the Treasury website.
So it took about 6.3 years to double from $4 trillion to $8 trillion, and about 8.7 years to double again. So it should hit $32 trillion about 12/31/2028 (about 9 years from now). It will take only 5 more doublings to reach $1024 trillion. At 9 years per doubling, that is in 2073.
Is this sustainable? What if Treasury decides to default on the $1 quadrillion National Debt, what will be the impact on our world? How can we prevent this cataclysmic event from happening? We already decided that the answer is not to cut any spending and that Social Security is sacrosanct.
Who owes the debt? Personally, I disclaim any responsibility for it. What about you? Are you willing to be a good debt slave and pay up your $2.5 million share? Why is nobody talking about this?
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