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America Faces a Doom Cycle but Nobody Seems to Care
America’s political class can no longer put off the inevitable. They soon will have to pay for their insanely reckless fiscal practices.
It’s not going to be pretty. America’s debt has reached an appalling $31 trillion. Annual interest payments will exceed $1 trillion this year. Debt service is well on its way to crowding out other priorities, a trend that will only accelerate.
Unfortunately, a steep rise in interest rates occurred near the end of the biggest spending binge ever. Economists are warning we are nearing the dreaded “doom loop” in which interest costs can be covered only by more borrowing, which further drives up interest expense, creating a vicious cycle.
David Spady returns to Whiskey Politics where we discuss if Los Angeles and California can afford the Olympics, the national debt just hit $20 trillion and all we got was this lousy t-shirt (what the heck are Republicans doing to reduce the debt?), Annenberg’s study showing just how stupid people really are, Trump, Pelosi, and Schumer, DACA, and tax reform. Will Trump get a bad deal, and is the Kaepernick effect causing lower ratings and empty stadiums?
One of Hillary Clinton’s campaign proposals is for additional infrastructure spending to the tune of 
Why is the United States Government today still considered the finest investment risk in the world? The answer traces to 
Financial experts in New York, London, and Brussels have tut-tutted Greece’s economic travails as Athens considers its future with the European Union. Why did they borrow so much money? How can they ever pay it back? Do they think that much debt is sustainable?