Fred Smith, the founder of executive chairman of shipping giant FedEx, is the latest business leader to sound the alarm that if America’s ballooning public debt is left unchecked, it will threaten to spiral into a catastrophic crisis.
Mr. Smith was asked during an interview on Fox News for his opinion on projections from the Congressional Budget Office (CBO) that U.S. federal debt held by the public will go from 99 percent of gross domestic product (GDP) in 2024 to a record 116 percent in 2034, before pushing above 170 percent by midcentury.
