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

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.

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