Is the huge US national debt a problem?
Vox | October 20, 2021
Nearly every year, America seems to teeter on the edge of a crisis as the national debt comes dangerously close to hitting the “debt ceiling” and the President and Congress fight over raising it. The “debt ceiling” is really just a limit on how much debt the country can take on. While the US isn’t the only country to have one, it is the only country to have legislation that regularly puts it on the brink of economic disaster.
The current US debt is nearing $29 trillion. That’s a trillion with a T. Is that… too much? And who does it affect?