by Veronique de Rugy, Jason Fichtner
August 21, 2014
The recent decline in federal deficits should not create a false sense that the national debt is no longer a clear and present threat. While this improvement may be encouraging, it represents only a temporary respite from the government’s growing fiscal imbalances. Congressional Budget Office estimates show deficits growing again two years from now, returning to trillion-dollar levels within a decade, and worsening from there.