The link at the bottom of this post leads to a fascinating simulation “game” in which you are invited to pick ways to reduce the federal debt to 60% of GDP. It’s not all that easy: my first try only got me halfway there.
The debt of the United States is rising to unprecedented – and unsustainable – levels. According to the Peterson-Pew Commission on Budget Reform, under reasonable assumptions, the public debt of the U.S. is projected to grow to 85% of GDP by 2018, 100% by 2022, and 200% in 2038. No country can support debt at these levels without huge costs to its standard of living at a minimum and most likely a severe crisis.