Burgeoning National Debt

Burgeoning National Debt
Name
Institutional Debt
Burgeoning National Debt
Question: What are the consequences of an ever-burgeoning national debt?
Over recent years, the United States (U.S.) national debt has increased exponentially. By November 7th, 2019, the national debt was almost hitting the $23 trillion mark (Habersham, 2019). Peter G. Peterson is a former U.S. Secretary of Commerce and he set the Peter G. Peterson Foundation to enlighten the public over increasing national debt. However, a keener audience needs to understand the effect of the soaring national debt. Therefore, they can understand Peterson's concerns.
First, the most straightforward effect of increasing national debt is consequential interest rates. Interest rates are the primary problem in any debt as these are determined by the length of the debt and its magnitude. A country will have to pay large astronomical interests, which implies that it w...