The U.S. Economic Outlook
A PowerPoint presentation by William Beach on the implications of mounting federal debt for the debt paying generation. Total debt is expected to grow from $5.8 trillion in 2008 to $11 trillion by 2019. That is 41% of GDP in 2008 becoming 82% of GDP by 2019. A Tsunami of debt from Social Security, Medicare, and Medicaid will push total debt to 320% of GDP in 2050 and 750% in 2083. In 2019, Interest payments alone on the debt will be $100 billion more than president Obama projects to spend on the whole Department of Defense.
(PowerPoint)