Veronique de Rugy on America's Debt Problem


Credit: Steve Rhodes / / CC BY-ND

“We don’t have an immediate crisis in terms of debt,” President Barack Obama declared in March. “In fact, for the next 10 years, it’s going to be in a sustainable place.” But as Veronique de Rugy observes, this attitude is reminiscent of the yarn about a man jumping off the roof of a 10-story building and, around the third floor, saying, “Everything looks fine so far!” The reality is that America does have a debt problem, she continues, and the president’s attempts to downplay the continuing crisis are not making things any better.