More From CBS
Here's another report from the CBS News with Katie Couric about government borrowing. Again, there's nothing here that wonks and policymakers will find new. But they're not the target audience: up-to-now-uninterested-viewers are the ones who mostly watch the evening news. This is also the group that has to become interested if the situation is going to change.
I'm going to check with CBS on Monday to find out how long this series is going to continue.
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Kudos to CBS
for attempting to educate the mainstream on this issue.katie and the debt
i saw most of the story as broadcast- big numbers thrown around by katie and anthony mason in somber voices. there was no attempt to compare the national debt or recent deficits as a percentage of past or present gdp. there was no attempt to compare the u.s. to other countries. in a way, it was worse than not doing the story at all.Supply
Our sky-rocketing national debt has pushed interest on the 10-year to a sky-high 3.5% and capital is so crowded out that people with no job, no income, and no hope of repaying cannot possibly get a loan... not! The demand for debt has been growing slower than the supply of capital, pushing interest rates lower. Debt is going to get even more unbalanced as we progress towards the singularity as robots and AI's don't consume and all of their earnings will need to go somewhere. The national debt is too small.