Projections

People who think we can outrun our debt through growth are severely misguided. Our economy is not growing, and the debt burden created by excess borrowing and spending today will further encumber its growth. We are adding new quicksand to old quicksand.

Growing economies are productive economies, and productive economies do not rely on credit to fund their government. All the current optimistic projections about how much of our GDP we will be able to dedicate to debt service are wrong, because they are based on interest rate projections that are going to fall apart.