| Anyone with a minimal knowledge of American history and having attained basic math skills can quickly grasp where we have come over the last century and a half. We will use the website, Treasury Direct, a government website, for the status of US government debt in any given year. If we start at the end of the Civil War, 1865, we find that the entire national debt stood at $2.68 billion. Needless to say, we can’t grasp this tiny number for the entire nation today, having just learned recently that Goldman Sachs earned $3.5 billion in just 90 days of business because of their “trading and investment prowess”.? |
