This is not meant to be political but it puts perspective on the nation’s financial status. This of course affects the markets as well.
“In the next 10 years, Americans will pay $10.5 trillion just on the interest on our debt. Now put that in perspective, from 1940 to today, America's only paid $9 trillion so the next 10 years, we'll pay more than we paid in the last 80 [years],"
McCarthy said at a news conference.
You can envision how this will play out but it will affect your investments and your wallet.
House GOP leaders and other lawmakers were briefed by the Congressional Budget Office on Wednesday, which projected that over the next 30 years, the debt held by the public will reach 195% of the nation's GDP.
justthenews.com