Most economists agree that America’s hope of future prosperity has been compromised by America’s debt. The currency we spend paying the principal or even just the interest on the existing National Debt is currency that we can’t spend investing in new factories or technologies that would increase our productivity and therefore our prosperity.
So long as the National Debt remains or, worse, grows—America will continue to slide towards austerity rather than prosperity.
But, it’s not just America that’s overly indebted. The world is awash in debt. That debt is reducing global productivity and prosperity.
If America—and the world—would become prosperous again, something’s got to be done about paying or otherwise eliminating our excessive National (and global) Debt.