by James Hickman
Schiff Sovereign
I wanted to do a bit of a deeper dive today on the topic of the national debt— and answer a basic question: is the debt a terminal problem? Or is it still fixable?
I actually had a bit of a debate on the topic with my friend and partner Peter Schiff last week. Peter thinks it’s terminal… and that there’s no way it could be paid down.
Based on the math, I disagree. There are a lot of things that have to go right, and very little that can go wrong. But at the moment, it is still possible to improve America’s gargantuan national debt challenge.
The first and most important thing to understand when discussing national debt is that the really important number to consider is the Debt-to-GDP ratio… not the actual debt itself.