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In the 1992 election a certain plain-talkin' Texas
billionaire raised a lot of hell exploiting America's anger about
the frightening level of hock our government is in. The United
States is the world's largest debtor nation. Interest on our
federal debt alone consumes 10% of our federal budget. How will
it ever be paid back? "Not by raising MY taxes!" scream angry
voters. Meanwhile the deficit increases by about $200 billion a
year. That's about $8,000 a second, folks. And yet: if the federal government owed nothing, and never had to go into debt, would it be able to squelch the boom/bust cycle and end the teeter-totter of inflation and unemployment? | |
| Crime - Downsizing - Housing - Recessions - Overpopulation - Pollution | |