Niall Ferguson: Will Debt Trigger US Collapse?
This layes it out in a very straight forward manner of where we are heading. While the republicans and democrats are deadlock we continue to overspend.
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2 comments:
I don't find his reasoning to be particularly compelling. All I heard was the typical China Red Alert of which I am very skeptical of. He attempts to oversimplify a situation and direct your attention to make it seem as though he is making a point, but there is nothing I heard in that clip that holds water.
Really, I find it extremely simple: interest on government debt is now in the five top contributors to the budget (along with social security, medicare, and the military). We are still overspending. Each year the potion of the budget that for interest will grow. At some point we won't be able to continue borrowing.
Thanks for the comment.
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