The growing U.S. debt is an often-cited figure, but it’s valuable to consider how that number will affect American citizens in tangible terms.
“The big question now is whether or not the United States has the equity to return to normal after a crisis,” writes Edward Jenkins Jr., CPA, in the January/February issue of CPA Voice.
Jenkins goes on to analyze the growing U.S. debt, the concomitant reduction in equity and the implications of debt growth on government and the economy as a whole.
“Interest rates are very low, and the Federal Reserve can just print more money, so who cares if we have a lot of debt?” Jenkins writes. “Not so fast, however: there are implications to the massive amounts of federal debt outstanding.”
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