Remember the financial crisis a few years back? And, remember all those talks about federal deficits and fiscal cliffs?
Well, apparently no one really cares about that anymore.
"Americans don't care about the federal budget the way they did just three years ago," said a recent Bloomberg article.
Looking at data from the Pew Research Center's annual survey in January, 56% of U.S. adults said reducing the country's deficit was a "top priority." In 2013, that number reached 72%.
Should we care? Duh!
Looking at USDebtClock.org, the current national debt stands at $19 trillion and counting, while the Federal budget deficit is over $501 billion.
"The Congressional Budget Office estimates that under current law, the deficit will swell to almost 5 percent of GDP in 10 years, due in part to higher interest rates and rising costs for an aging population. This will push the federal debt held by the public to 86 percent of GDP over the same period, a level many economists believe puts significant drag on economic growth," Bloomberg wrote.
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