I am not sure that I’m satisfied with the explanation below. I don’t know that we can grow our way out of this debt. Nobody wants to cut spending:
Plan To Deal With Debt?
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Poor Vance. Trying to put a positive aura on disaster. This year’s federal deficit is heading toward 8% of GDP!!!! During a non-recession year! The Treasury projects it will borrow $739 billion in the present quarter alone.
GDP in the last quarter grew 1.5% (annual basis). The US Empire/Vampire is in a debt/death spiral. Bidens’ last 2 years borrowed on the order of 7% of GDP and the Republicans increased that their 1st year. This 2nd year the spending is much worse because of Bibi’s Bitch’s war.
Debt growing 8%. GDP growing 1.5% “Growing our way out of it” is just something they say. We live in a time when whatever Officialdom says prima facie should be assumed a lie.