Deep in Debt

by Yuval Levin

Once in a while, the Congressional Budget Office publishes an “issue brief” that takes up a broad public-policy question and lays out the key facts and arguments in accessible, understandable English. (As one former CBO director put it, the issue briefs keep things so simple even a member of Congress could understand them.)

Last week, CBO published such a brief on the federal debt. It basically takes up the questions: How big is our debt? How big is it likely to get? And why is that a problem? It’s really a fantastic, short, and accessible overview, well worth your time.

But it sure is depressing.