Tag Archive for ‘national debt’
American citizens have concluded that they are entitled to a certain standard of living. And if the nation’s finances don’t support what they consider their fair take, then our leaders will just have to fund it with debt and stick our grandchildren with the bill.
We were blindsided. We never saw it coming.
So said Goldman Sachs CEO Lloyd Blankfein of the financial crisis of 2008. He likened its probability to four hurricanes hitting the East Coast in a single season.