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Dealing With America’s Olympic-Sized Debt Problem

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10.08.2021

If you’ve watched any of this summer’s Olympic Games, you’ve likely marveled at the tremendous speed, strength, and precision of the world’s best athletes.

It can be hard to grasp just how fast, strong, and agile these Olympians are. If you’ve ever run on a treadmill—probably in the 6- to 7-mph range—consider setting the treadmill to 13 mph and running for 26.2 straight miles.

Perhaps you’ve done a flip on a large and cushy trampoline. Now imagine doing that same flip on a solid and unforgiving 4-inch beam. Or picture yourself throwing a bowling ball across the length of a tennis court.

Yet it’s easier to imagine all of that than to grasp the enormity of the U.S. federal debt and our government’s recent spending spree. It’s almost incomprehensible, at least without a little perspective.

Take this past year.

Most Americans realize the federal government spent a lot of money, including three rounds of so-called stimulus payments that most households received. But those $3,200 worth of individual checks pale in comparison to total spending.

If ordinary Americans had spent like the federal government did in 2020, the median household that earns $68,703 would have spent........

© The Daily Signal


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