by Mark Hendrickson
Mises.org
For years, I have been sounding the alarm about chronic federal deficit spending—practiced by both Republicans and Democrats—steering our country into a fiscal abyss. I feel like a broken record as I periodically chronicle the folly of it all. The process has taken on a sense of inevitability as we watch what feels to me like a slow-motion train wreck.
I have remarked on various milestones along this dangerous course:
Americans as a people and a polity are astoundingly indifferent to debt and have embraced it as the (temporarily) normal way to live.
One significant marker along the way was the grim prospect of more of our tax dollars going to service of the national debt than to national defense.