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It’s not often that prominent senators go out of their way to promote the latest movie release. Then again, it’s not often that anyone makes a movie about the federal budget crisis.
I.O.U.S.A., set for release nationwide Thursday, is such a film, and while it won ... Continue reading »
I.O.U.S.A., set for release nationwide Thursday, is such a film, and while it won ... Continue reading »
10 months ago
The main problem with composition of the federal debt is that part of it is off-the-books indemnities driving the municipal and corporate debt. This is both a hidden and compounding problem.
Otherwise, foreign holdings of Treasury paper are not a problem, so long as the world is happy holding our paper. Meanwhile, our national debt and deficits are necessary "fixes" -- in the sense of a junky-fix -- to stabilizing employment and growth.
The political problem is our Predator State: That is manifest more as a pattern than an aggregate: It is borrowing and spending that is more than just "out of control", it is "looting".