And it's actually worse than that...Try Trillions and 40% of which is borrowed. The plumber:whistling is right, most will have to wait and see how this shakes out. Sucks, but it is what it is for now.:sad:
If 40% of every dollar you are spending is borrowed, you are borrowing 66-2/3% of what you are contributing from your own funds.
If you increase the % you borrow, the ratio goes up exponentially because of the debt service requirements to the point where it becomes mathmatically impossible to service the debt. At that point, you can no longer borrow or you have to find someone else (and they'd have to be really stupid) from whom to borrow. Then what happens?
Mike Tyson is broke. Whitney Houston died broke. Did they have a revenue problem or a spending problem?