Victor Davis Hanson Private Papers

Victor Davis Hanson: The spreading debt virus — 5 potential cures for $30 trillion problem

The current U.S. budget deficit could soon exceed a record $4 trillion. The massive borrowing is being driven both by prior budget profligacy and a hurried effort by the Donald Trump administration to pump liquidity into a quarantined America.

The shutdown has left the country on the cusp of a self-inflicted economic collapse not seen since the Great Depression.

Americans may soon have to service a staggering national debt of about $30 trillion — nearly $100,000 of debt for every American.

Democrats and Republicans can blame each other, either for spending too much or for too little taxation, or both. But both sides will agree that managing such an astronomical debt requires several frightening choices. 

One, Americans would be forced to live with permanent near-zero interest rates, or perhaps even negative interest rates.

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About Victor Davis Hanson

Victor Davis Hanson is the Martin and Illie Anderson Senior Fellow in Residence in Classics and Military History at the Hoover Institution, Stanford University, a professor of Classics Emeritus at California State University, Fresno, and a nationally syndicated columnist for Tribune Media Services. He is also the Wayne & Marcia Buske Distinguished Fellow in History, Hillsdale College, where he teaches each fall semester courses in military history and classical culture.

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