The figure amounts to roughly $111,000 of debt for every person in the US, think tank says.
The figure amounts to roughly $111,000 of debt for every person in the US, think tank says.
By John Power
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The national debt jumped $1 trillion in 82 days and is expected to keep climbing. How that could affect you and your financial…
Budget experts agree on one thing. The debt is on an "unsustainable" trajectory.
"Markets are paying close attention to our fiscal situation, and every time we hit a new milestone, we risk spooking them," said…
"It's not a Ponzi scheme," Penn Wharton's Kent Smetters explained to Fortune. "It's a shell game."
Interest payments on America's debt have ballooned to nearly $1 trillion a year—and will only go up from here.
"It's one of those things that's almost like the old law," Richard Haass told Fortune. "It's fine until the day it's not."
