What Even Our Smartest Economists Get Wrong About The Debt

The $40 trillion debt point naturally prompted much griping among pundits, many of whom see their job as promoting hysteria in order to justify cuts to Social Security, Medicare, and other popular social programs. As is clear to anyone not on the payroll of the rich and very rich, the debt is overwhelmingly the result of tax cuts , mostly to high earners, put in place by Presidents Reagan, Bush…