Who’s Going To Pay the US National Debt?

By: Francis Cianfrocca (Diary)  |  January 21st at 08:10 AM  | 

As I write, the public debt (sometimes called the national debt) of the US stands at $6.3 trillion, roughly 40% of GDP. (You’ve heard many people say that the debt is actually about $10.6 trillion, but that’s fictional, as I explain below.) As we know, the question of who will pay off the debt is an interesting and urgent one. Especially now that, through a | Read More »

Learning to Love Federal Budget Deficits

By: Francis Cianfrocca (Diary)  |  July 28th at 08:11 AM  | 

I’m often asked to speak in favor of lower Federal deficits. I’m not sure how clear I’ve been about this here, but I’ve long been very skeptical of the standard argument, found on both sides of the aisle, that fiscal discipline is a Good Thing.™ I realize that it takes some nerve to fly in the face of all the fine people on our side | Read More »