“Will Opportunity Keep Knocking?”
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The document discusses the growing federal debt in the United States and its implications for younger generations. It states that total federal debt is expected to grow from $5.8 trillion in 2008 to over $11 trillion by 2019, increasing from 41% of GDP to 82% of GDP. By 2050, total debt is projected to reach 320% of GDP and 750% of GDP by 2083. This growing debt from programs like Social Security, Medicare and Medicaid will have to be paid back through tax increases, spending cuts, inflation, or debt repudiation. The document warns that repaying this debt will significantly reduce the quality of life for younger generations by delaying major life milestones like home ownership, marriage, and family starting
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“Will Opportunity Keep Knocking?”
- 1. Will Opportunity Keep Knocking? The Implications of Mounting Federal Debt for the Debt Paying Generation Presentation by William Beach
- 9. Unfortunately, we have very big debts to come, and our incomes won’t grow as fast as our spending…