Larry Lindsey in the Wall Street Journal Opinion section provides a clear and uncomfortable assessment of the budget debate.
Some might say rather than a debate this is Preening and posturing by a gaggle of bloviating gasbags but for now let's say debate. Linsey demonstrates the dimensions of the problem clearly and succinctly. The former Federal Reserve Governor gives us a worrying picture. Read the article.
Normal interest rates would raise debt-service costs
by $4.9 trillion over 10 years, dwarfing the savings from any currently
contemplated budget deal.