“We are going to be broke really quickly unless we get serious about dealing with our spending issues,” Jones told CNBC’s Andrew Ross Sorkin on Tuesday.
Read the rest here.
I tend to agree. No matter who wins, their spending plans are going to spike the national debt. Trump's are worse, by far. But the next four years, and possibly beyond, are going to be a bumpy ride. A quarter century of bipartisan fiscal profligacy may finally be reaching its inevitable end.
Over the years I can remember hearing about the inevitable end of the US economy (or some other horror stories) over the national debt, but it seems to have been prolonged sufficiently that the threat of some sort of collapse doesn't have the same effect it once did. I know, fiscally, that we're in really bad shape. But with very few obvious repercussions, does anyone really think it will happen? Or that it will happen soon? I suspect most people, myself included, will be very unprepared. Lord, have mercy.
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