US Economic Outlook: Indebted to Death

http://www.lewrockwell.com/daughty/mogambo59.1.html

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Runaway federal spending good for special interests, bad for the rest of us

Liberty For All
by Brian Irving

07/31/10

‘Over the past few years, U.S. government debt held by the public has grown rapidly — to the point that, compared with the total output of the economy, it is now higher than it has ever been except during the period around World War II.’ That’s the chilling opening line of a brief recently released by the Congressional Budget Office. The non-partisan CBO warns that without significant policy reforms ‘growing budget deficits will cause debt to rise to unsupportable levels’...

http://www.libertyforall.net/?p=4616


Informant: Thomas L. Knapp



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