Saturday, April 26, 2008

Regardless of our ages, we'll owe our children

Andrew L. Yarrow's book has a title that says it all: Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility. Why? Because hopefully you've been totaling up the economic train wreck that's taking place in the United States. How bad is it? Yarrow claims that by Election Day this November, the U.S. national debt will be $10 trillion (yes, that's with a "t"). Worse yet, he says that if current trends persist, "that number will continue to grow at an alarming rate, compounded by an active to retired worker ratio for Social Security that is dropping from 44:1 to 2:1--and that's without factoring in the outrageous gas prices. Who's going to pay for this insanity? Our children, their children, and their children's children. A must-buy. A must-read. Rating: 5 stars out of 5.

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