The Pros And Cons Of Debt

When you hear debt your mind automatically think it’s a bad thing, Which is not always correct. Now everyone know America is in debt but do you really know who much our country is in debt. “On January 29, 2016, the U.S. debt surpassed $19 trillion. That meant the debt-to-GDP ratio is 106%, since 2015 GDP is $17.9 trillion. However, the public debt was a more moderate $13.7 trillion. That made the public debt-to-GDP ratio a safe 76%. According to the World Bank, the tipping point is 77%.” (useconomy). Debt is not a completely bad thing but it does have its downfalls. No one wants to be in debt to someone. A little debt is okay but 19 trillion dollars is a little much.