What does increasing national economic debt mean for the U.S. and the world?

An apocryphal World War II-era quote credited to a German Tiger I tank commander says, “I could always take out 10 American tanks, but they had 11.” It meant that no matter the commander’s success, America’s superior number of tanks won the war. One of the primary reasons the Allies and Americans won World War II was because of the economic strength of the United States. How did our debt level help us in 1944? And how does our country’s debt impact families in 2024? Today, our debt is…...