The New Red Menace: Government Debt

The New Red Menace: Government Debt - humanevents.com

"With U.S. Treasury officials predicting the federal government will reach its $16.7 trillion borrowing limit in mid-October, Washington is girding for another battle over taxes and spending between Congress and the White House. Regardless of the exact details, recent history should teach us that the biggest loser likely will be the taxpayer. After World War II, America’s main concern for many decades was the so-called “red menace”: Communism and the Soviet Union. Now we’re discovering that the real red menace is the red ink that Washington has been piling up: the debt. Benefits Today, Payments Tomorrow."

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