UGAZF - The Real Problem Behind The $26.8 Trillion U.S. National Debt
There are no solutions. There are only trade-offs. —Thomas Sowell
Macroeconomic Thesis
In the past, on multiple occasions, I've written about how the United States' enormous national debt burden will slow economic growth going forward. Academic studies have demonstrated that, above a certain threshold of debt-to-GDP (ranging from 60% to 90%, depending on the study), government debt becomes a growing drag on GDP.
However, the problem is not really debt per se. Debt is a consequence of the problem, and it exacerbates the problem. But the fundamental issue is more straightforward, hiding in plain