Libertarian: The National Debt Matters

New Treasury data show “the national debt reached a new milestone: $30 trillion,” laments Reason’s Eric Boehm, adding the last $10 trillion with “truly remarkable” speed. Blame “an unbalanced entitlement system and a persistent gap between government spending and tax revenue,” as for two decades “politicians from both parties have carelessly borrowed to pay for everything from foreign wars to $1,200 checks for most Americans.” Soaring debt “will have a material impact on Americans’ futures. Higher levels of debt are correlated with lower levels of future economic growth.” Yikes.