We owe a debt to the future.
On the menu today: China’s 19th Party Congress, vaccine diplomacy, insider trading from home, and a look at the Microsoft antitrust case.
The common presumption that the federal deficit doesn’t matter is entirely wrong.
Economist Stephanie Kelton’s supposed epiphany fails to convince.
What cannot go on much longer soon probably won’t.
This year’s deficit is estimated at 19.3 percent of GDP, which is nearly double the peak deficits of the Great Recession.
The financial outlook is grim.
The government will add over $2 trillion to the national debt in the remaining six months, bringing total national debt to $26.6 trillion.
Our debt as a share of GDP is coming close to 100 percent soon, as opposed to the original projections of this happening in 2030.