The National Debt
April 19, 2011
A credit-rating agency warned yesterday that the United States may not be able to make good on its debt. The agency said the odds are one in three that the United States will lose its AAA rating in the next two years, which would make it harder for the United States to borrow money, at higher interest, triggering a catastrophic debt spiral. NRO’s Kevin Williamson gives some good background and explanation, while NRO editor Kathryn Jean Lopez points out that if you read National Review, you would have seen this coming.
Posted by Chillingworth
Filed in Politics and Public Policy, size of government
Tagged: Barack Obama, boring speech, Charles Krauthammer, confiscatory taxation, debt crisis, existential threat, federal spending, IRS, Jonah Goldberg, Kathryn Jean Lopez, Keith Hennessey, Kevin Williamson, national debt, Obama plan, Paul Ryan, Ryan plan, spending cuts, tax increases, Victor Davis Hanson, Wall Street Journal, wealth redistribution
Tagged: Barack Obama, boring speech, Charles Krauthammer, confiscatory taxation, debt crisis, existential threat, federal spending, IRS, Jonah Goldberg, Kathryn Jean Lopez, Keith Hennessey, Kevin Williamson, national debt, Obama plan, Paul Ryan, Ryan plan, spending cuts, tax increases, Victor Davis Hanson, Wall Street Journal, wealth redistribution