I saw this today:
“The United States federal debt is forecasted to grow to a record 202% of the gross domestic product by 2051, the Congressional Budget Office reported on Thursday, reflecting healthcare and debt services cost growth. The national debt for 2021 is estimated at 102%.”
So I’m curious, if the U.S. is in so much dept (I think a lot of countries are?) How doesn’t it run out of money?
In: Economics
Because debt payments are still manageable.
There are plenty of people out there making $100k doing just fine with a $300k mortgage and $40k worth of car loans (so 340% of income). As long as the federal government continues making its monthly obligations, people will continue to loan them money.
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