U.S Debt – how much is too much?
As policy makers bicker over the budget and increasing the debt ceiling let’s take a look at our nation’s financial condition. In recent years I have begun questioning how much debt is simply too much even for the U.S government… Are you familiar with the term normalcy bias? It is a mental state we often “enter when facing a disaster.” It “causes people to underestimate both the possibility of a disaster occurring and its possible effects,” causing most of us to be inadequately prepared. I suspect to a degree normalcy bias with the economy is at play in clenching this ‘faith based notion’ in the U.S. credit system all together.