U.S. National Debt Exceeds 33 Trillion While National Wealth increased by 220%
“The U.S. National Debt has exceeded $33 trillion for the first time, @nytimes https://www.nytimes.com/2023/09/18/us/politics/us-national-debt.html but it’s important to note that the country’s national wealth has grown significantly in the past decade. Between 2012 and 2021, it increased by 220% to $153 trillion, even after controlling for inflation and economic growth, https://research.stlouisfed.org/publications/economic-synopses/2022/10/19/the-recent-rise-of-u-s-national-wealth. Therefore, the #NationalDebt must be placed into proper perspective @AlanRappeport and the debt does not suggest any fiscal trajectory due to the debt when our wealth and growth are quadrupling. If our country is weak economically with high poverty then a high debt is a problem. But when the economy has this much wealth and growth then we can afford to have high debt. But give Americans the money. Check out The Neoliberal Journals and The Neoliberal Round Podcast for more insights on this later.”
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