In this series, the Wells Fargo Investment Institute examines how current fiscal trends related to the federal budget could affect your investments.
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Transcript: Paying America's Bills
Many American families today have debt.
Whether it's from a mortgage loan, credit cards, or financing college tuition, most of us carry some amount of debt in our lifetime. And although the federal government's debt doesn't operate in quite the same way as your average household's debt, the concept is similar - when spending outpaces income, they go into debt to payoff the difference.
And in most years, the government spends more than it brings in. In fact, today the federal government's total outstanding debt is over $19 trillion. That comes to about $60,000 per citizen.
The US is facing a number of fiscal trends that will most certainly impact economic growth and investment returns for decades to come.
In this series, we examine how these trends could affect your investments, and how our government will focus on: Paying America's Bills.