Tuesday, January 1, 2013

So What Does The New Kick-The-Can Deal Do About Debt!

Publicly Held Debt Set to Skyrocket
PERCENTAGE OF GDP






By John Sykes


NOTHING!












Publicly Held Debt Set to Skyrocket

Runaway spending on Medicare, Medicaid, and Social Security will drive federal debt to unsustainable levels over the next few decades. Total national debt consists of publicly held debt and intergovernmental debt. Intergovernmental debt is the amount that the government owes to specific programs or agencies, such as the Social Security Trust Fund. Publicly held debt is more relevant to credit markets.