by Patrick J. Buchanan
On Sept. 30, the end of the fiscal year 2016, the national debt is projected to reach $19.3 trillion.
With spending on the four biggest budget items – Medicare, Medicaid, Social Security, defense – rising, and GDP growing at 1 percent, future deficits will exceed this year’s projected $600 billion.
National bankruptcy, then, is among the existential threats to the republic, the prospect that we will find ourselves in the not-too-distant future in the same boat with Greece, Puerto Rico, and Illinois.
Yet, we drift toward the falls, with the issue not debated.