Econ Comments & Analysis
Washington Post | Don’t write off the deficit
All is quiet on the federal deficit front — or so many in Washington would like to pretend. Exhausted by the past couple of years of political trench warfare over a “grand bargain,” congressional Republicans and Democrats are doing nothing to end the across-the-board cuts to discretionary programs, known as sequestration, or to address the nation’s long-term fiscal predicament.
Mercatus | The US Debt in Perspective
The unfunded liabilities of Social Security, Medicare, and Medicaid are often omitted from discussions about the large size of US public debt. Once these are taken into consideration, it becomes clear that the US government is already bankrupt.
