The message from the US Treasury Department’s most recent annual report was stark:
"A sustainable fiscal policy is defined as one where the debt-to-GDP ratio is stable or declining over the long term. The projections based on the assumptions in this Financial Report indicate that current policy is not sustainable."
“Not sustainable” is code-speak for “will someday breakdown spectacularly unless somebody does something about it.”
The main problem, of course, is that we no longer have the sort of politicians with the necessary background or experience to do anything about something this large and meaningful. So nothing will be done.
Are you prepared for that? Most aren’t. Heck, maybe nobody is.
This week Paul Kiker and I discuss these and many other issues.
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