Debt, Debt & More Debt

The United States public debt level hit $11.31 trillion in May. The last 15 years have seen the US government debt grow from $4.6 trillion to $11.3, an annual compound growth rate of 6.2%. The growth of US debt over the last 15 years far outpaces the increases in gross domestic product. The current actions by the government are made especially worrisome because as the US fights the current recession with debt in the short-term, we also see an extremely challenging long-term situation. As many have said before, the days of reckoning are somewhere on the horizon.