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
Tag: National Debt
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
