'The Math Always Wins': GOP Rep David Schweikert Details Cost Of The Rising Federal Debt, Ties it to inflation, calling it "biggest modern tax hike"

[basquebromance]

5yr CDS on the USA is 29bps (29k/yr to insure 10MM of debt against default)

Total federal debt for USA is $31T funded plus $170T unfunded

20yr CDS equiv is 120bps so:

$200T debt x 1.2%p/a = $2.4T premium

to use an economic term: "we're screwed!"

 

[basquebromance]

doesn't this scare the crap out of anyone? do you have kids? the debt is the threat to America, not climate change!