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Pirate's Cove
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Feb. 12, 2022 8:53 pm
The U.S. national debt currently sits at just over $30 trillion but, as Elon Musk points out, that does not factor in unfunded entitlements and future obligations.
From Musk: "True national debt, including unfunded entitlements, is at least $60 trillion – roughly three times the size of the entire US economy. Something has got to give."
There are some in Banking circles that believe in the Paul Volcker approach:
The only way to effectively combat inflation is to throw the economy into a recession.
Jay Powell is not one of those and I hope for best.
It is clear that it is not wise to add unnecessarily to the current debt.
