Nobody Cares About the National Debt

In response to my speculation that we’re going to end up reforming Social Security by letting it break, several people told me—disapprovingly, which is good for them—that politicians will just fill the gap the way they always have, by borrowing more money.

Well, here’s the thing about that. They can try borrowing their way out of this, but by the time Social Security breaks down for good, 19 years from now, they might find it a bit difficult.

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