All Commentary
Wednesday, June 6, 2012

Debt to Dwarf Economy by 2037


“The U.S. government risks a fiscal crisis unless it makes significant changes in tax and spending policies, the Congressional Budget Office said. . . . By 2037, the debt would be almost twice the size of the economy, the agency said. That would mean higher interest rates, slower economic growth and far more painful choices for lawmakers than they face today.” (Bloomberg)

Politicians are good at digging holes.

FEE Timely Classic
“The Evil of Government Debt” by Sheldon Richman