At some point in the near future - damned sooner than you may think - a lot of people are going to figure out that almost no one in Washington, D.C ever had any intention of paying off our debt.
I don’t have an issue with debt in and of itself. And the Fed did nice work with Operation Twist and refinanced a large portion of the debt to long term at exceptionally low rates. the problem is that with it going up significantly faster than the economy is growing we are going to reach a point where we might not be able to meet our obligations. That is a national security issue.
I just don’t want to hear any of them talk about raising taxes and that helping. $1.6 Trillion over 10 years is a rounding error.