The Rise and Fall of Hope and Change

The Rise and Fall of Hope and Change

Alexis de Toqueville

The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money.
Alexis de Tocqueville

The United States Capitol Building

The United States Capitol Building

The Constitutional Convention

The Constitutional Convention

The Continental Congress

The Continental Congress

George Washington at Valley Forge

George Washington at Valley Forge

Friday, February 3, 2012

How and Why a U.S. Sovereign Debt Crisis Could Cccur

From AEI:


by Peter J. Wallison
American Enterprise Institute
January 27, 2012
A United States sovereign debt crisis is a remote possibility, but in our increasingly fragile system it could be triggered by a number of financial catastrophes—from a chaotic break-up of the Euro system to something as adventitious as a serious earthquake in California. The most likely source of a United States sovereign debt crisis, however, is a failure of the United States political system to address the growth of the major entitlement programs—Social Security, Medicare and Medicaid. That possibility is discussed in this paper.

No comments:

Post a Comment