Editorial: Our current federal spending is unsustainable. We have to fix that
It’s time to start talking again about the deficit and not dismiss those fretting about the mounting federal debt, now approaching $34 trillion, as Chicken Littles. The yearly deficit has topped $1 trillion — once a nearly unimaginable figure — now for several years running. It was $1.7 trillion in the fiscal year just concluded, and the financial world barely cocked an eyebrow. The federal ...
It’s time to start talking again about the deficit and not dismiss those fretting about the mounting federal debt, now approaching $34 trillion, as Chicken Littles.
The yearly deficit has topped $1 trillion — once a nearly unimaginable figure — now for several years running. It was $1.7 trillion in the fiscal year just concluded, and the financial world barely cocked an eyebrow. The federal government has no problem floating debt; the dollar remains strong.
This won’t last. Even America, as economically powerful as it is, can’t run on a
