Great quote from National Review’s Kevin D. Williamson. Mr. Williamson was writing about what he refers to as a new genre of journalism, which suggests that “there is no debt problem.” Kevin writes, “Americans currently believe that they have some claim to entitlement benefits that are underwater to the tune of more than $60 trillion in unfunded liabilities. If a $7.5 trillion hit caused the Great Recession, imagine what a $60 trillion hit is going to do!”
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Richard C. Young is the editor of Young's World Money Forecast, and a contributing editor to both Richardcyoung.com and Youngresearch.com.