Let's Talk ... National Debt

For a few years I have watched our National Debt as it soared at a frightening rate, much like watching a teenager with a credit card. A basic description of our nation’s debt is what money our government has borrowed from sources, such as private investors, different federal agencies, and other nations. The ability to pay that back is a comparison of our gross domestic product (GDP) to debt ratio. Financial experts start to worry when a country’s debt reaches 77% of that country’s GDP. As they worry about that country’s ability to repay that debt, or at least make reasonable paymen...