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Will America Choke on its Own Debt

04/01/2010

By Money Morning

Is America getting in too deep?

According to a new estimate by the Congressional Budget Office (CBO), if the United States continues along its current path, U.S. public debt will reach 90% of the nation’s economic output by 2020.

Given that federal debt has already zoomed to 53% of gross domestic product (GDP), this projected additional escalation seems outrageous.

Unfortunately, it’s only a piece of the story.

Read more: Google the story ---- got to do a work to learn more !!!!!!!!!!!

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