Dust-Up: Will deficits destroy us?

Will Washington ever be able to pay down its ever-increasing debt load? Does it even matter that the federal government is about $1 trillion in the red this year? Authors Brian Doherty and Doug Henwood debate.

Will America ever be a country without debt?

December 19, 2008

Dust-Up

Will America ever be a country without debt?

Today's topic: When will Washington ever be able to pay down its overall debt, which is approaching $11 trillion? Given what's happening with the aging population, when might we be in a position to reduce the debt load? Or will we simply count on a growing economy to make the debt look smaller in comparison to gross domestic product? Previously, Henwood and Doherty discussed the risks of deflation versus inflation in light of the Fed's recent interest rate cuts and how big the national debt should be in relation to the gross domestic product.

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