America, the country, has amassed more debt than any nation in history. How that reality isn’t cause for screaming front pages headlines daily is something of a mystery, except for the ‘full faith and confidence’ the world has in the creativity of the American economy to grow over time and correct its imbalance. How else can you explain why other countries continue to buy our debt, when we’re already so debt-ridden? We ponder with budget expert, James Capretta, of the American Enterprise Institute, how long this can go on before all Americans, particularly those receiving entitlement benefits, can expect them to be stable in the face of the growing pressure on the federal budget. The numbers generated by the Congressional Budget Office are staggering and the projections going forward grow more dire with each passing year. We ring the alarm bell on this episode.
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