“Unsustainable”—U.S. debt on a collision course w/our way of life
Up until now it has been a scary but abstract concept: that the huge national debt of the U.S., fed by growing annual budget deficits, will soon start to impact the economy and all facets of life. According to a new report by the GAO, the promised harsh reality of a multi-trillion dollar debt is already here and the consequences of borrowing will start to catch up to the American way of life. With fiscal challenges that will persist long after the return of financial stability and economic growth, how can we pay off our national debt?
Up until now it has been a scary but abstract concept: that the huge national debt of the U.S., fed by growing annual budget deficits, will soon start to impact the economy and all facets of life. According to a new report by the GAO, the promised harsh reality of a multi-trillion dollar debt is already here and the consequences of borrowing will start to catch up to the American way of life. With fiscal challenges that will persist long after the return of financial stability and economic growth, how can we pay off our national debt?
Guests:
Susan Irving, director of federal budget analysis at the Government Accountability Office; she authored the GAO report on federal debt
Len Burman, Daniel Patrick Moynihan Professor of Public Affairs, Syracuse University Center for Policy Research. He has also held the posts of director of the Urban-Brookings Tax Policy Center, deputy assistant secretary for tax analysis in the Treasury Department and senior analyst at the Congressional Budget Office.
- Patt Morrison for October 20, 2009
- Water main roulette continues troubles for DWP
- While water flows in the streets of L.A., will there be a deal in Sacramento?
- AG Brown sues State Street bank to recoup $200 million in losses
- Energy Star—lame-duck imprimatur
- “Unsustainable”—U.S. debt on a collision course w/our way of life
- State of Seafood report isn’t as fishy as we feared
- Pandora’s music genome project
Also on this episode
Events
Comedy Congress Live
Wednesday, February 29, 2012
7:30 p.m.
- 9 p.m.
The comedic material emanating from Washington D.C., and state capitols across the country, is enough to make any sitcom writer jealous, even if most of that comedy is unintentional. Our motto on Comedy Congress is that just when politics makes you want to cry, it’s usually best to laugh.
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