Words & Numbers


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Insightful weekly commentary on news & current events from economist Antony Davies and political scientist James R. Harrigan.

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Our Ever-Expanding National Debt

Episode 193 October 21, 2020

Periodically, the Congressional Budget Office forecasts federal debt, revenue, and spending. For decades, the CBO has underestimated the future debt. If we adjust CBO’s forecasts by their historical error, we get a clearer picture of where the federal government’s finances will be in the next decade. Interestingly, the debt is approaching a point not seen since the first decade of our history when Congress replaced Continental dollars with the US dollar we use today.

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CBO’s Long Term Outlook

About the Hosts

James R. Harrigan is Managing Director of the Center for Philosophy of Freedom at the University of Arizona, and the F.A. Hayek Distinguished Fellow at the Foundation for Economic Education. He is also co-host of the Words & Numbers podcast. Dr. Harrigan was previously Dean of the American University of Iraq-Sulaimani, and later served as Director of Academic Programs at the Institute for…

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Dr. Antony Davies is the Milton Friedman Distinguished Fellow at FEE, associate professor of economics at Duquesne University, and co-host of the podcast, Words & Numbers. Dr. Davies authors monthly columns on economics and public policy for the Philadelphia Inquirer and Pittsburgh Tribune-Review. He has written a book on understanding statistics, published by the Cato Institute, and has co-…

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