The federal government, like all entities that borrow money, pays for the privilege of doing so in the form of interest. A growing national debt therefore places a greater burden on the federal budget in the form of rising interest…
Policymakers in both parties often want to take credit for responsibly offsetting the costs of popular tax cuts or spending increases, but without actually making the hard choices necessary to do so. That would require higher taxes or lower spending…
Most people agree that current fiscal policies are unsustainable. It is thus a matter of common sense to require those who want to enact new tax cuts or entitlement expansions -- both of which would enlarge the structural deficit --…
Last month the U.S. national debt surpassed $20 trillion for the first time in history. It is clear that our nation’s fiscal path is unsustainable. Unfortunately, in Washington our elected officials are kicking the can down the road and avoiding…
