Does National Debt Still Matter? America’s Gamble

Fiscal hawks have been sounding the alarm about rising debt levels for decades, but their nightmare scenario of runaway inflation hasn’t come to pass. How do we know if this time is different?  Full text, links, and credits: ------------------ Subscribe to our YouTube channel: Like us on Facebook: Follow us on Twitter: ​​​​ Reason is the planet’s leading source of news, politics, and culture from a libertarian perspective. Go to for a point of view you won’t get from legacy media and old left-right opinion magazines. ---------------- In 2010, when former White House Chief of Staff Erskine Bowles and former Sen. Alan Simpson (R–Wyo.) were appointed to co-chair President Obama’s deficit-reduction commission, the Congressional Budget Office (CBO) offered two projections on the future of American debt. One forecast saw debt ballooni