When was the last time you went to:
Go, go look at it now. There are lots of numbers, all rising rapidly. Today, focus on two of them in particular. First, in the upper left, find the national debt, which is now over $21 TRILLION. Second, near the center, find the Gross Domestic Product, which is now over $20 TRILLION. In other words, our debt is more than 100% of GDP. That’s an important relationship.
Economists debate whether a “death spiral” begins automatically at 100% or 110%. The U.S. has several advantages, allowing us to exceed that automatic death spiral for now, but nobody knows how much for how long and in what interest rate environment. So, why take that chance?
Keynesian economists and Supply-side economists focus in increasing GDP, which is fine. Only Austria economists focus primarily on the level of debt, which is even better.
The first step is to stop digging the hole deeper. The second step is to raise revenue. Good Luck!