Economists made a model of the U.S. economy. Our debt crashed the model
People have been worrying about U.S. debt basically ever since there even was a U.S. “The accumulation of debts is a most fearful evil,” Thomas Jefferson wrote in 1787. At the time, U.S. debt was around $40 million. Today, it’s closer to $40 trillion. At the same time, the U.S. economy is bigger and more powerful than Jefferson could have ever imagined, and things are looking pretty good: unemployment is near record lows, inflation is under control… so what’s the problem? “Part of the problem i