The United States’ total debt has ballooned to over $34 trillion. Economists Kenneth Rogoff and Carmen Reinhardt consider this level of debt relative to gross domestic product a sign of major economic trouble (see figure 1). But Washington shows little appetite for addressing the problem as policymakers approve budgets with annual deficits of 25 percent or more. Defense spending and other needed investments are severely constrained while interest on the debt now approaches $1 trillion per year. Inflation is supercharged, and chronic overspending challenges productivity and America’s sovereign credit ratings.
Join Hudson Senior Fellow Thomas Duesterberg for a discussion with Dr. Douglas Holtz-Eakin and Dr. William Beach to explore ways to halt the destructive budget cycle.
Figure 1
Dr. Sebastian Gorka, will meet with Dr. Michael Doran to discuss the evolving global terrorist threat, the future of United States counterterrorism strategy, and how counterterrorism shapes US policy in the Middle East.
Join Hudson Senior Fellows Bryan Clark and Michael Roberts for a discussion with government and industry leaders about the challenges the US Navy and Coast Guard face amid modernization efforts and how new legislation and regulation can help restore America’s maritime superiority.
Join Hudson Institute Senior Fellow and Director for the Center for Peace and Security in the Middle East Michael Doran for a conversation with Reverend Johnnie Moore, president of the Congress of Christian Leaders and founder of the Gaza Humanitarian Foundation.
