The Congressional Budget Office is reporting that our national debt will jump to the highest level since 1950 as compared to the size of our economy.

For those of you who do not see our nation’s debt as an issue I ask how much is too much?

At what level of debt will you start believing that we might have a problem?

The CBO stated that our debt held by the public, debt issued in the form of Treasury securities held by investors not the debt the government owes itself through the Social Security and Medicare trust funds, will increase 3% to a total of 77% of our Gross Domestic Product (GDP).

Our debt has not been that high in relation to GDP since 1950.  Why 1950, that is when we were still paying down our debt incurred from WWII.  I find it interesting that we actually did pay down our debt once upon a time. By the way the last time our government even paid down a nickel of our debt was back in the 1950’s.

At some point the debt incurred by our politicians is going to affect us as taxpayers.  This is not debt the politicians are incurring this is debt the politicians are incurring on our behalf.

As many of you might know if interest rates on debt held by the public instruments i.e. T Bills rises the interest cost to us taxpayers will rise.  When our interest cost rise that could hurt other government functions and expenditures.

So again I ask when is enough an enough?

Let’s talk about this today on The Live with Renk Show which airs Monday through Friday 9 a.m. to noon. To let me know your thoughts during the show please call (269) 441-9595.

Or please feel free to start a discussion and write your thoughts in the comment section.

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