I oftentimes get questions from clients about the issues surrounding the annual budget deficit, the U.S. debt, the shortfall in Social Security, and what this means to the future of the United States.
A recent research paper and presentation put together by OppenheimerFunds called "The Truth About Debt" gives some history and context to these complex issues. This question comes up often enough that I wanted to share a link to the presentation with you.
This presentation shows the history of the U.S. debt, debunks the fear that the U.S. is a bad credit risk, the myth that U.S. debt is predominantly held by foreigners, and also addresses what will happen when the Social Security surplus funds are projected to run out in 2034.
For those of you who have an interest in these topics, this short presentation is well worth reading.