The Magnitude of the Mess We're In
The above editorial by George P. Schultz and other Hoover Institution fellows appeared in today's Wall Street Journal. It paints a dire picture indeed, both of our debt trajectory: nearly to $20 trillion within ten years. I'll be surprised if it doesn't go higher. A small increase in interest rates will make management of the debt virtually impossible.
Putting this column together with Bob Woodward's new book, The Price of Politics, which shows a White House that is unable to craft political solutions to the crisis, and our future looks bleak indeed.
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