In all the fuss and bother about the coming presidential election, there has been remarkably little talk about skyrocketing US deficit and the resulting skyrocketing interest’s payments. Regardless of who is president, these are going to be the things that govern what the ruling class can do. But these concerns still don’t factor into the political discourse although they are starting to come up with increasing frequency in the financial press. So I want to take step back from all the political drama and review the essay “Why you should panic about the US Deficit” that I wrote in September of last year.

Continue reading →