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MARK W. HENDRICKSON: GOOD COP, BAD COP -A BIPARTISAN FAILURE TO CONTROL SPENDING |
Years of unjustified and unaffordable government spending have brought us to the precipice of national bankruptcy. When investor demand for government debt falls below the bloated supply, interest rates will surge and the Fed will probably inflate like mad. We will suffer massive business failures, surging unemployment, a colossal debt implosion and/or a severely depreciated (if not utterly ruined) currency, and significantly lower standards of living. The greatest threat to our country’s future is chronic overspending by the federal government. We are racing toward national bankruptcy. Once again, bipartisan economic ignorance is the problem. Neither political party seems ready to tackle the spending problem.
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