The national debt is bad. Really bad. With both the debt and the deficit ballooning in the U.S., and sovereign-credit crises erupting around the world, the financial constraints of governments are becoming a limiting factor in public policy. The big trends in spending and borrowing suggest that’s going to get worse.

Authored by National Review deputy managing editor Kevin D. Williamson, NRO’s Exchequer blog covers everything from bottom-line debt numbers to the spending that drives them; from eurozone PIIGS to pigs at the trough in Washington. If you’re worried about the future of the dollar — and the future of the country — then you’ll want to check in for a daily dip into the red ink.