Under President Donald Trump? Probably.
The nation's total debt has topped $22 trillion for the first time in U.S. history.
The Senate just passed a massive tax cut for the wealthy, despite continuing to claim how good this is for the middle class.
Unless the $1,000-per-child tax credit is doubled, most lower- and middle-income families will barely see a cut, if at all.
It would cost more than $7 trillion over the next decade, according to one analysis.
Both major political parties in America are shepherding crafty plans to benefit their side at the expense of the other. What neither side sees is that in trying to kill off the other, their protracted and intense internecine warfare is moving the country away from the shared public good.
Making America great again -- by running up huge IOUs.
Buy 20 SQQQ Sept $17 calls for $2.50 ($5,000) Sell 20 SQQQ Sept $23 calls for $1.20 ($2,400) Sell 4 Target (TGT) 2018 $60
Many people might think that Donald Trump can only teach the country how to offend women, African Americans, and a range of non-European ethnic groups. While that may be his area of expertise, it seems that his rants on dealing with debt may actually provide a teachable moment.
In a crisis, where debt suddenly became completely unmanageable, cutting spending or services wouldn't and couldn't happen fast enough. Raising taxes is an even slower process. Look how hard it is to do either, even in times when we aren't in crisis.