The current model is not sustainable...
We can’t inflate the debt away as it is short term and the increased interest rates would throw our government into default.
The current model is not sustainable...
We can’t inflate the debt away as it is short term and the increased interest rates would throw our government into default.
...............
The result of surging oil production is lower federal deficits. What’s more likely than not is that Obama will leave office with annual deficits under 200 billion and maybe under 100 billion. He may even get lucky and leave office with government deficits at 0. That leave a huge debt. But just balance the budget for a decade or two and the debt shrinks as a portion of gdp.
A pipe dream you say?
Maybe. We’ll see.