The Debt Dilemma

Erskine Bowles and Alan Simpson’s draft plan to reduce the $13 trillion national debt, released on Wednesday, was unequivocal that change was going to be difficult and call for deep sacrifices. We have here what Bernard Williams calls a dilemma.  There is no single formula that is going to get us out of this mess… Continue reading The Debt Dilemma

How to Frame the National Debt for Public Deliberation

Some alarming facts: As of 5/12/10, the national debt held by the public is $8.4 trillion; intragovermental debt is $4.5 trillion, making the total outstanding national debt $12.9 trillion. Public debt is now 53% of GDP. By 2020, even though the GDP will have nearly doubled, the public debt will be 90% of GDP. If… Continue reading How to Frame the National Debt for Public Deliberation