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11. America's $40 Trillion Debt Crisi: THOMAS SAVIDGE 083126
Published 1 month, 2 weeks ago
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CAPTION: 1900 SAN FRANCISCO MINT
The Silent Drip: Structural Remedies for America's $40 Trillion Debt Crisis
Thomas Savidge addresses the economic implications of the United States crossing the $40 trillion national debt threshold, fueled by pandemic spending and mandatory entitlements. This massive debt competes with private capital, driving up consumer borrowing rates and depressing real wages through inflation. To halt this slow economic drip, Savidge proposes a "fiscal constitution." This includes strong constitutional amendments, Colorado-style spending caps tied to population growth and inflation, a silent-approval budget commission to enact spending cuts, and strict regulatory limits on the scope of government authority to prevent accounting tricks. (11)
The Silent Drip: Structural Remedies for America's $40 Trillion Debt Crisis
Thomas Savidge addresses the economic implications of the United States crossing the $40 trillion national debt threshold, fueled by pandemic spending and mandatory entitlements. This massive debt competes with private capital, driving up consumer borrowing rates and depressing real wages through inflation. To halt this slow economic drip, Savidge proposes a "fiscal constitution." This includes strong constitutional amendments, Colorado-style spending caps tied to population growth and inflation, a silent-approval budget commission to enact spending cuts, and strict regulatory limits on the scope of government authority to prevent accounting tricks. (11)