All Commentary
Tuesday, December 8, 2009

Debt Issues Unavoidable

“‘Right now, this year, we have 1.6 trillion in debt coming due. That’s roughly twice individual income tax revenue. Our only plausible strategy for paying that back is to borrow more money,’ says Leonard Burman, an economist at Syracuse University. Under some grim scenarios, the cumulative debt of the United States could rise to several times the nation’s annual GDP by mid-century.” (Washington Post, Tuesday)

I have a feeling it could happen much faster.

FEE Timely Classic:
Should We Cancel Our National Debt?” by Daniel Pilla