Coinbase CEO Brian Armstrong Has a New Solution to America's $39 Trillion Debt Problem. (Hint: It Involves Bitcoin.)
This plan sounds good in theory, but its chances of being implemented are slim.
Overview
As time passes, it's becoming increasingly difficult to ignore the macroeconomic elephant in the room. The U.S., the world's most dominant economy, has $39 trillion in federal debt. This figure, which doesn't include the $120 trillion in unfunded liabilities (related mainly to Social Security and Medicare) that the Congressional Budget Office estimates the U.S. will have in about 30 years, has more than doubled in the past decade. It now represents 123% of gross domestic product (GDP).
Brian Armstrong, the billionaire co-founder and CEO of Coinbase, proposes a solution to the country's debt problem. It involves Bitcoin (CRYPTO: BTC).
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Details
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Originally published at www.fool.com.