The Impending Debt Crisis
Austin Lawyers Chapter
Start : Monday, October 25, 2010 11:30 AM
End : Monday, October 25, 2010 1:00 PM
300 Colorado Street
- Doug Bandow, The Cato Institute
Doug Bandow is a senior fellow at the Cato Institute, specializing in foreign policy and civil liberties. He worked as special assistant to President Reagan and editor of the political magazine Inquiry. He writes regularly for leading publications such as Fortune magazine, National Interest, The Wall Street Journal, and The Washington Times. Mr. Bandow speaks frequently at academic conferences, on college campuses, and to business groups. Mr. Bandow has been a regular commentator on ABC, CBS, NBC, CNN, Fox News Channel, and MSNBC. He holds a J.D. from Stanford University.
The U.S. has been struggling with the aftermath of the 2008 financial crisis in the midst of a painful recession. Unfortunately, the profusion of bail-outs, stimulus plans, and exploding entitlement spending is creating an even more serious long-term debt crisis. Some states, like California, already have joined countries like Greece as epitomes of fiscal irresponsibility. Unless Washington policymakers quickly address today's multitude of legally- and politically-mandated spending, the U.S. also faces a future of rising spending, debt, and interest, with fiscal crisis the likely result. The latter would inevitably spill over into the political and legal systems.
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