It Takes Two to Tango—and Solve the Nation’s Debt Crisis

At the turn of the twenty-first century, the U.S. economy was firing on all cylinders: the federal government sported a budget surplus of $122 billion, U.S. GDP was growing at a robust rate of 4.8 percent, inflation hovered around 2 percent, the trade deficit was less than $300 billion, the national debt was “only” $5 trillion, and the debt to GDP ratio was a healthy 55 percent.Read More