Why Are We Gambling With America’s Future?

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David Brooks: Why are we gambling with America's future?

Over the past few decades, in a surge of bipartisan national self-confidence, the federal government has borrowed a lot of money, sometimes in response to national emergencies and sometimes to do the things people thought were worth doing. We gave ourselves permission to incur all this debt because interest rates were low and many people assumed that things would stay that way, so the costs of carrying that much debt wouldn’t be too onerous.