I am writing in an attempt to calm Alan Muratet’s concern about the national debt. I am 80 years old and was born in the presidency of Franklin Roosevelt, who greatly raised the national debt in dealing with the Depression and fighting World War II. Since that time, our debt has had some ups and downs, but overall it has greatly increased, causing the sums spent by Roosevelt to seem a minor change.
Yet the debt has never come due. We are always able to borrow what is necessary. My guess is that 80 years from now, our debt will greatly increase, but we will still be able to borrow what is necessary. Hope that insight provides some calm.