John Taylor wrote the following article “Exploding Debt Threatens America”:
Although I don’t agree with some of his figures and reasoning, the central point is important: This debt level is a serious problem.
It also illustrates the difficulty of ridding ourselves of this level of indebtedness.
These issues will likely get greater attention now that sovereign debt levels are coming under renewed scrutiny.
Furthermore, a question that should be asked is whether amassing ever-greater deficits and debt levels is compatible with the concept of sustainable prosperity.
I’ve been meaning to write an article about our national debt, as I think the topic deserves much greater discussion.
SPX at 944.37 as this post is written