Our Grandkids Will Owe Their Grandkids

I've written in depth about the US deficit & rapidly increasing debt. Now in case you missed some of the nuances of those previous articles, let me summarize this series of blog articles in the simplest possible way...

Massive US debt means our grandkids...


will be supporting their grandkids...


by paying higher & higher taxes and experiencing a lower standard of living here in the US as we devote a major part of tax collections to make gigantic interest payments on the US debt to the Chinese (and other US government bondholders)--as a result of massive spending by their grandparents, ie, you & me.