Most of us agree the money printer is printing huge sums of money, which becomes an addition to the national debt, which simply gets larger every yr.
Now some like to tell us our children, grand children or even great grand children will have to pay this debt
Is this a true statement that our children etc will have to pay the debt
True or false
Assuming a population of 310 million and 1 in 4 people actually file an income statement
Then assuming the debt is 30 trillion for round numbers
Each wage earner would have to pay
387,096,774 USD to pay off the national debt
plus state and local debt
plus all social contracts such as old age, etc
I think we have a problem
The above is obviously false
So why so many repeat the above statement baffles me
Very thought provoking points!
At some point, kicking the can down the street may not work so well when the street ends!
"Assuming a population of 310 million and 1 in 4 people actually file an income statement"
I think that number is closer to 150 million and around 44/45% but regardless, it doesn't change your great points.