Friday, August 28, 2015

Millennials and 130% debt/GDP

Italian day is coming up in December when deficit loving Republicans agree to raise the debt ceiling.  Next step up is Itslian level debt, and low growth  It means millennials will roll over 130% of GDP three times in their career. The Federal inerest cost burden goes from 2% to 3% of GDP.  That is a one percen paycut for  millennials, and they do not even remember what we bought with all that debt! Some of us can remember our first bailout, the Texas Savings and Loan  disaster, one of those Bush family things, that was 20 Trillion Swamp Cookies ago.

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