The Coming Fiscal Tsunami

The Coming Fiscal Tsunami | Hoover Institution
The United States will soon confront a major economic problem, perhaps one unparalleled in the nation’s history.
It won’t strike tomorrow, next week, or next month, but it is out there, its roots sown by the demographics of the past half-century and a body politic hesitant to tamper with aging institutions of government.
When it emerges, like a tsunami, the destructive consequences of amassing unprecedented federal indebtedness will be overwhelming, and though seemingly distant, when it rears its head it will rise suddenly in our consciousness as if coming without warning.