Sadly, Congress has absolutely no controls on the willing to spend money and promise entitlements to borrowers. Spending is a runaway trend in Washington DC.
Much of this spending is entitlement spending, such as Medicaid and Medicare.
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The explosion of Federal spending and entitlements will eventually recover an Austrian solution: 100 year debt. Until recently, Austria already led nations with the longest sovereign debt maturity of 70 years. Most other countries are at 50, 40 and 30 year maturities.
Does America issue 100 year Treasury bonds? No, how about 120 year bonds?
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