The national debt will continue to soar. Bank on it.
See Holman Jenkins’s column from last week for evidence. Easily the most prominent business and economics columnist in the world, Jenkins wrote in the Wall Street Journal that “The U.S. won’t deal with its looming debt problem except with ad hockery – inflation, spending cuts, tax hikes, de facto claw-backs of government benefits via waiting lists and declining service quality.” Here's a case that the ad-hockery won’t work.
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