Other Voices

We are not the only ones who see America’s debt as a dangerous problem! Here’s what other voices have said:

The U.S. is entering unfamiliar territory in its level of public debt,”[…] The choice is not whether to change course from current policy, [CBO Director Douglas Elmendorf] noted, but “how quickly and in what way.”

CBO’s Elmendorf: U.S. Fiscal Policy on Unsustainable Path
March 8, 2010
The Wall Street Journal

Persistent deficits and rising debt will undermine American prosperity, threaten beneficial social programs, and weaken our position in the world.

Donald Marron, Marron Economics LLC
February 9, 2010
Testimony before the United States Senate Committee on the Budget

Mr. Obama’s fiscal strategy is more akin to the voyage of the Titanic. Let’s hope he changes course soon enough to prevent disaster.

Dr. Michael Boskin, Stanford University
February 11, 2010
The Wall Street Journal

We are steadily becoming more vulnerable to economic disaster on an epic scale.

Simon Johnson, Massachusetts Institute of Technology
February 9, 2010
Testimony before the United States Senate Committee on the Budget

As for the deficit, CBO shows that over the first three years of the Obama Presidency, 2009-2011, the federal government will borrow an estimated $3.7 trillion. That is more than the entire accumulated national debt for the first 225 years of U.S. history.

Editorial: The Obama Fisc
January 27, 2010
Wall Street Journal

The troubling feature of Mr. Obama’s budget is that it fails to return the federal government to manageable budget deficits, even as the wars wind down and the economy recovers from the recession. […] President Obama’s long-term fiscal strategy is to appoint a commission to figure out a long-term fiscal strategy.

N. Greg Mankiw, Harvard University
February 13, 2010
The New York Times

The problem is spending. Despite Mr. Obama’s words about restraint, the new budget proposes more spending.

R. Glenn Hubbard, Dean of Columbia Business School
February 8, 2010
The Wall Street Journal

Mr. Geithner was met with laughter when he told a group of Chinese students that their country‘s assets were “very safe” in Washington.

June 5, 2009
The Washington Post

A devalued dollar, higher interest rates, greater spending to service the debt, and depressed wages will produce a diminished standard of living and reduced standing on the world stage.

Editorial: U.S. is drowning in red ink
January 3, 2010
The Miami Herald