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US debt worries are overblown, former Fed economist Claudia Sahm wrote in Bloomberg.
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Household wealth stands at $142 trillion, a massive resource to fund debt, she said.
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“Politics is the real threat, not the level of borrowing. A country that prioritizes the size of the federal debt has bad priorities.”
US national debt recently topped a record $34 trillion, but worries over its size are misguided, former Federal Reserve economist Claudia Sahm wrote in a Bloomberg op-ed.
Although concerns now abound among both politicians and consumers, pessimists are overlooking the amount of money potentially available.
“Yes, $34 trillion is big number, but $142 trillion is even bigger and much more important because it represents the total wealth of Americans —a massive resource that helps fund government debt and deficits,” she…
