In the Red

Our glidepath to insolvency.

by Jeffrey H. Anderson

When Ross Perot won an impressive 19% of the popular vote as an independent candidate for president in 1992, his main issue was the national debt. In one of his unusual, half-hour-long campaign ads, Perot declared, “Just this year, we ran up $341 billion in new debt…. That’s our legislators and our president trying to buy our vote, this year, with what used to be our money.”

Three decades later, our national debt—which reached $4 trillion the year that Perot ran—has hit $30 trillion. If our debt were to keep rising at that rate over the next 60 years, it would increase more than 50-fold and surpass $1.5 quadrillion (a quadrillion, which sounds like a made-up number, is a thousand trillions)..............To Read More.