Over the years, I've offered many explanations about why the trajectory of the national debt is deeply troubling. At this point, though, my worry isn't rooted in a dogmatic adherence to the principles of a balanced budget. Nor does it come from my desire for a smaller government. Instead, I'm alarmed by politicians' unwillingness to look at the numbers and have a serious discussion about changing course.
When I first started paying close attention, the U.S. was essentially carrying a credit card balance of 40 percent of America's gross domestic product (GDP). Today, according to the Congressional Budget Office (CBO), that balance hovers around 98 percent. Imagine credit card debt equal to your yearly salary, interest costs piling up, and more inevitable debt coming your way. Congress doesn't seem to mind, which partly explains why even optimistic scenarios project the debt to soar to a staggering 180 percent within 30 years.
