By almost every historical indicator, the US is clearly approaching a debt crisis. The federal government’s aggregate liabilities now exceed its gross domestic product. The annual interest required to service federal obligations is greater than what Congress spends each year on defense. And projected annual deficits for the next decade are well ahead of estimated […]
The Bright Side of the Looming Debt Crisis Read More »
For some time now, respected economists across the political spectrum have been urging politicians to address the rising level of U.S. debt. The official tally of the country’s liabilities has skyrocketed over the last decade from $15 trillion to $33.7 trillion; this dramatic increase does not even include what Washington has promised to pay out
The Federal Debt Is Getting Worse — and That’s the Plan! Read More »
Like politicians of every age, both Republicans and Democrats have for decades complained about government overspending when out of office, only to resume rewarding their own supporters once back in power—almost always by amounts far above tax revenues. Now, as the resulting public debt ominously exceeds our annual GDP, the question naturally arises: Have we
Secular Institutions Push America into a Debt Crisis Read More »