The U.S. government has been borrowing short-term at unsustainably low rates to finance its long-term needs. If history is any guide, continuing on the present road can only lead to disaster. What are the alternatives? What are the implications? Keep reading to find out.
The U.S. national debt and the Federal deficit have ballooned to alarming proportions. According to the National Bureau of Economic Research (NBER), the Federal deficit reached an estimated $1.4 trillion in fiscal year 2009.