July 30, 2014

David Walker and Robert Bixby on the National Debt

September 20, 2012
Iowa Public Television

Excerpt

Concord Coalition Executive Director Robert Bixby: "You know . . . it's not the immediate size of the debt that we worry about, it is the projected size going forward. If you look at the projected deficits they are totally unsustainable.  You would need -- you couldn't do it all by just raising taxes, you couldn't solve it all just by cutting some particular program in the federal deficit.  We're looking at trillions of dollars of debt over the next ten years, another ten trillion dollars just over the next ten years under current policies.  This is why economists say it's totally unsustainable because over time nobody will lend us the money to pay the interest on that debt."