The U.S. Budget Deficit Dilemma

This chapter analyzes the alarming budget deficit in the U.S. and its potential long-term effects, highlighting a rare bipartisan acknowledgment of fiscal irresponsibility. It examines historical shifts in budgetary ideologies and the lack of political will to address looming financial crises, alongside concerns about rising debt and dependency on foreign savings. The discussion concludes with a cautionary perspective on the U.S. economy's sustainability and its global position amidst rising interest rates and inflation.