Simple charts vividly demonstrate the immensity of the exploding debt problem now faced by the United States. The large expansion of debt in World War II looks like a small blip compared to what's coming if we do not change policy. Click here to see the charts I used to compare U.S. debt history with CBO projections in my Economics lectures at Stanford today. The source is the spreadsheet for CBO's alternative fiscal scenario in its June Long-Term Budget Outlook.
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