Hit & Run

Calm… At Storm's Eye?

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Libertarians are no longer lonely Cassandras on exploding entitlement spending: Experts across the political spectrum seem to agree that federal fiscal irresponsibility is planting a debt time bomb for our kids. Usually, we contrast that sort of government stupidity with the relative efficiency and wisdom of markets. But as the Urban Insitute's Rudolph Penner observes, financial markets don't seem to be responding to the projected problem as one would expect. So what's up? Well, Penner doesn't seem too certain either, but check out the full report.