The US can see a huge productivity jump and increase their revenue, but there are 2 elephants in the room:

1. The growing interest expense

2. The fact that the US is spending over a trillion more than they collect for Social Security and Medicare.

You can’t do much about the first elephant, gotta pay it.

Trying to remove the second elephant is a politically unpopular decision, people would not be happy. It’s probably the only chance to get out of deficits though.

#debt #tax