Why is AI suddenly so consequential and urgent?
Because, almost overnight, AI has become the beating heart of our economy. We face a real existential threat if AI fails to realize its promise.
Realistically, AI-spurred high GDP growth is the only way we can meet our national debt obligations without drastic spending cuts and/or onerous tax increases.
We hit $40 trillion in U.S. Treasury debt (gross debt) in August according to the Monthly Treasury Statement. Net of Treasuries in government accounts, that’s about $32 trillion, or about equal to current GDP. National debt last hit the level of GDP at the end of World War Two.
Read the entire column in The Hill.
Red Jahncke is a nationally recognized columnist, who writes about politics and policy. His columns appear in numerous national publications, such as The Wall Street Journal, Bloomberg, USA Today, The Hill, Issues & Insights and National Review as well as many Connecticut newspapers.