“Washington’s spiraling debt trends are simply unsustainable.” Those are the words of Manhattan Institute budget expert Jessica Riedl in the Washington Post. But unless Riedl knows something that the deepest markets in the world don’t know, what she describes as unsustainable is quite sustainable.
The $37 trillion (and rising fast) worth of federal debt is loud evidence of the previous truth. As is made plain throughout The Deficit Delusion with numerous market-based examples, money is ruthless.
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