{"id":12398,"date":"2020-05-29T10:30:46","date_gmt":"2020-05-29T17:30:46","guid":{"rendered":"http:\/\/victorhanson.com\/wordpress\/?p=12398"},"modified":"2020-07-23T21:00:25","modified_gmt":"2020-07-24T04:00:25","slug":"victor-davis-hanson-the-spreading-debt-virus-5-potential-cures-for-30-trillion-problem","status":"publish","type":"post","link":"https:\/\/victorhanson.com\/wordpress\/victor-davis-hanson-the-spreading-debt-virus-5-potential-cures-for-30-trillion-problem\/","title":{"rendered":"Victor Davis Hanson: The spreading debt virus \u2014 5 potential cures for $30 trillion problem"},"content":{"rendered":"\n<p>Victor Davis Hanson \/\/ Fox News<\/p>\n\n\n\n<p>The current\u00a0<a href=\"https:\/\/www.foxnews.com\/category\/politics\/executive\/deficit\">U.S. budget deficit<\/a>\u00a0could soon exceed a record $4 trillion. The massive borrowing is being driven both by prior budget profligacy and a hurried effort by the\u00a0<a href=\"https:\/\/www.foxnews.com\/category\/person\/donald-trump\">Donald Trump<\/a>\u00a0administration to pump liquidity into a quarantined America.<\/p>\n\n\n\n<p>The shutdown has left the country on the cusp of a self-inflicted&nbsp;<a href=\"https:\/\/www.foxnews.com\/category\/us\/economy\">economic collapse<\/a>&nbsp;not seen since the Great Depression.<\/p>\n\n\n\n<p>Americans may soon have to service a staggering national debt of about $30 trillion \u2014 nearly $100,000 of debt for every American.<\/p>\n\n\n\n<p>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.&nbsp;<\/p>\n\n\n\n<p>One, Americans would be forced to live with permanent near-zero interest rates, or perhaps even negative interest rates.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.foxnews.com\/opinion\/spreading-debt-virus-5-potential-cures-victor-davis-hanson\">Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Victor Davis Hanson \/\/ Fox News The current\u00a0U.S. budget deficit\u00a0could soon exceed a record $4 trillion. The massive borrowing is being driven both by prior budget profligacy and a hurried effort by the\u00a0Donald Trump\u00a0administration to pump liquidity into a quarantined America. The shutdown has left the country on the cusp of a self-inflicted&nbsp;economic collapse&nbsp;not seen [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_newsletter_tier_id":0,"footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[1],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p466Sb-3dY","jetpack_likes_enabled":true,"jetpack-related-posts":[{"id":13383,"url":"https:\/\/victorhanson.com\/wordpress\/biden-mocks-ancient-wisdom\/","url_meta":{"origin":12398,"position":0},"title":"Biden Mocks Ancient Wisdom","author":"victorhanson","date":"May 14, 2021","format":false,"excerpt":"School of Athens by Raphael, Public domain, via Wikimedia Commons Victor Davis Hanson \/\/ American Greatness Human nature stays the same across time and space. That is why there used to be predictable political, economic, and social behavior that all countries understood. The supply of money governs inflation. Print it\u2026","rel":"","context":"With 1 comment","block_context":{"text":"With 1 comment","link":"https:\/\/victorhanson.com\/wordpress\/biden-mocks-ancient-wisdom\/#comments"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/victorhanson.com\/wordpress\/wp-content\/uploads\/2021\/05\/SchoolofAthensRaphael.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/victorhanson.com\/wordpress\/wp-content\/uploads\/2021\/05\/SchoolofAthensRaphael.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/victorhanson.com\/wordpress\/wp-content\/uploads\/2021\/05\/SchoolofAthensRaphael.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/victorhanson.com\/wordpress\/wp-content\/uploads\/2021\/05\/SchoolofAthensRaphael.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":8667,"url":"https:\/\/victorhanson.com\/wordpress\/obamas-utterly-hypocritical-response-to-trumps-criticisms-of-his-record\/","url_meta":{"origin":12398,"position":1},"title":"Obama\u2019s Utterly Hypocritical Response to Trump\u2019s Criticisms of His Record","author":"victorhanson","date":"September 18, 2015","format":false,"excerpt":"by Victor Davis Hanson \/\/ NRO - The Corner President Obama just said this about Donald Trump\u2019s disparagement of the last seven years: \u201cIn the echo chamber that is presidential politics, everything is dark and everything is terrible.\u201d Presidential candidates \u201cdon\u2019t seem to offer many solutions for the disasters that\u2026","rel":"","context":"In &quot;NRO The Corner&quot;","block_context":{"text":"NRO The Corner","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/opinion\/nro-the-corner\/"},"img":{"alt_text":"Obama-Budget-Plan-jpg","src":"https:\/\/i0.wp.com\/victorhanson.com\/wordpress\/wp-content\/uploads\/2015\/09\/Obama-Budget-Plan-jpg-500x281.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11960,"url":"https:\/\/victorhanson.com\/wordpress\/trump-or-what-exactly\/","url_meta":{"origin":12398,"position":2},"title":"Trump \u2014 or What, Exactly?","author":"victorhanson","date":"August 28, 2019","format":false,"excerpt":"Victor Davis Hanson \/\/ National Review In traditional political terms, there is always an alternate agenda to an incumbent president\u2019s that reasonable voters can debate. In Trump\u2019s case, two massive annual budget deficits \u2014 coming on top of the previous two administrations that doubled the national debt \u2014 seem fair\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113,"url":"https:\/\/victorhanson.com\/wordpress\/dr-barack-and-mr-obama-on-the-debt-ceiling\/","url_meta":{"origin":12398,"position":3},"title":"Dr. Barack and Mr. Obama on the Debt Ceiling","author":"victorhanson","date":"January 19, 2013","format":false,"excerpt":"by Victor Davis Hanson NRO's\u00a0The Corner Barack Obama once had a lot of insightful things to say about the debt ceiling that transcended the usual political game of voting for debt-ceiling increases when your guy was president and against when he was not \u2014 and even some things that were\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/politics\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2202,"url":"https:\/\/victorhanson.com\/wordpress\/funny-money\/","url_meta":{"origin":12398,"position":4},"title":"Funny Money","author":"victorhanson","date":"October 21, 2009","format":false,"excerpt":"by Victor Davis Hanson NRO's\u00a0The Corner Obama recently promised $250 to seniors (who got no cost-of-living increases in Social Security because there had not been sufficient official inflationary pressures to merit them), and a good-paying job to every American who needs one. Apparently, the president did not say that in\u2026","rel":"","context":"In &quot;October 2009&quot;","block_context":{"text":"October 2009","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/archives\/2009\/october-2009\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1175,"url":"https:\/\/victorhanson.com\/wordpress\/deficits-and-depression\/","url_meta":{"origin":12398,"position":5},"title":"Deficits and Depression","author":"victorhanson","date":"October 18, 2010","format":false,"excerpt":"by Victor Davis Hanson Tribune Media Services We will learn in November just how angry the public is about a lot of things, from higher taxes to massive unemployment. But the popular uproar pales in comparison to the sense of humiliation that we Americans are quite broke. In 2008, the\u2026","rel":"","context":"In &quot;October 2010&quot;","block_context":{"text":"October 2010","link":"https:\/\/victorhanson.com\/wordpress\/ahref=\/index.php\/categories\/angry-reader\/categorylink\/a\/archives\/2010\/october-2010\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts\/12398"}],"collection":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/comments?post=12398"}],"version-history":[{"count":2,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts\/12398\/revisions"}],"predecessor-version":[{"id":12506,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/posts\/12398\/revisions\/12506"}],"wp:attachment":[{"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/media?parent=12398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/categories?post=12398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/victorhanson.com\/wordpress\/wp-json\/wp\/v2\/tags?post=12398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}