America on Verge of Being ‘Permanently Debt-Bound’

By Ray Pinard | June 26, 2013 published this article by J.R. Reed I think you’ll find interesting.

Under existing policies, the federal government debt is expected to increase another 50% over the next decade, according to a study released June 18 by the Heritage Foundation.

In just five years since President Obama took office, the federal debt has already doubled. The ratio of government debt to economic output is only expected to rise as American taxpayers carry the staunch burden of unaffordable entitlement programs.

A high debt ratio can severely negatively impact our economy by pushing up interest rates and lowering investment, leading to slower wage growth and slower economic growth overall. As J.D. Foster notes in the Heritage report, “the simple fact is that America is on the verge of becoming a country in decline – economically stagnant and permanently debt-bound.”

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