Cheaper gas will not deliver the US from the rising threat of national insolvency.
The debt situation is not getting better: it is worse than before, and it’s worse now than previously projected.
fee.org
The Debt Is Worse than Ever, but the Public Seems Unaware
Debt-to-GDP Is at Its Highest Level Since World War II
Politics
Debt
GDP
Government Spending
Policy
Taxation
One of the fascinating quirks of humanity, studied by scientists ranging from
behavioral economists to
psychologists, is how our perceptions of events are shaped as much by our expectations as by objective realities. Because we compare outcomes to our expectations it is easy for us to make a number of cognitive mistakes, including confusing something getting better for something getting worse, and vice versa. The national debt is a case in point. The tenor of much
recent coverage is that the federal debt is a fading problem, even though by any objective measure it is a serious one in the process of getting rapidly worse.