July 22, 2014

National Debt Now Bigger Than the Economy

January 9, 2012
The Christian Post

Excerpt

“The federal fiscal outlook is on an economically unsustainable path,” Rogers explained, because, deficits as a percent of GDP have been much larger in recent years than the growth rate of the economy. Deficits as a percent of GDP have been around eight to 10 percent in recent years while the economy has grown around two percent a year. (In the past, economic growth averaged around three percent a year.)