30 Trillion So Far, When Will The Music Stop?
That escalated quickly!
In 1990 the federal debt was a little over three trillion.
By the turn of the millennium it was around the high five trillion mark.
During 2008, the year of the financial crisis, it crossed ten trillion.
It hit 20 trillion in 2017.
Whoops, it is now over 30 trillion dollars. That is a 3 followed by thirteen zeroes.
So, let me get this straight: the first ten trillion took 232 years to accumulate. The second ten trillion took nine years. And the third ten trillion took just over four years. At this rate, we should hit 40 trillion at about the end of 2022.
I hope I can find a chair when this system breaks. It shouldn’t be much longer.