About a week ago, to little fanfare, the U.S. national debt crossed $38 trillion.
Now, perhaps you’re scratching your head…“Wait, weren’t we just talking about hitting $37 trillion?”
Yep – but that was in August.
We then added another $1 trillion at the fastest pace in history outside of the Covid pandemic spendapalooza.
But the speed of our mounting debt isn’t the only problem. The second issue is the size of our debt service.
Excessive debt contributes to destroying the purchasing power of your wealth – but how much, exactly?
This post originally appeared at InvestorPlace.