Insidious debt ‘going to eat at our national income, like termites,’ warns budget expert

Insidious debt ‘going to eat at our national income, like termites,’ warns budget expert

“We can debit people’s bank accounts without touching them because all we do is print more money,” says Marc Goldwein. “Your bank account stays with the same dollar amount, it becomes worth less.” Goldwein says average Americans should care about the nation’s rising deficit and debt: “What’s going to happen is your income is just going to grow a little bit slower than it otherwise would each year, year after year, and so you might not feel it at any moment in time, but it accumulates and ultimately can create a lot of pain.”