Today's Post - https://bahnsen.co/4d5naRqDavid Bahnsen discusses U.S. national debt after total federal public debt surpassed 100% of GDP, defining it as $31.27T in Treasury securities versus $31.22T GDP, distinct from state/local debt, intergovernmental debt, and unfunded liabilities. He explains who holds Treasurys (foreign holders, the Fed, U.S. households, and banks/pensions/insurers) and why Treasurys serve as the global risk-free rate, rooted in confidence in repayment supported by U.S. economic strength and taxing authority. Bahnsen argues the key problem is persistent deficits (~6% of GDP) growing faster than the economy, projecting debt near $50T by 2040, driven mainly by entitlement spending rather than military, fraud, or insufficient taxation. He says growth is necessary but not sufficient, warning reforms will involve pain, and closes by advocating diversified, valuation-conscious dividend growth investing as an attractive risk/reward approach.Links mentioned in this episode:DividendCafe.comTheBahnsenGroup.com