U.S. Debt – A Ticking Time Bomb

If you have watched The Wizard of Oz, you undoubtedly recall the scene when Toto pulls on the curtain, and the Wizard is exposed. The Wizard tells Dorothy and the group, “Pay no attention to that man behind the curtain.”

Despite The US Debt Clock showing the amount owed per taxpayer at $259,103 and still climbing, many in the media and in Congress (and even some economists) tell us to “pay no attention” to the debt – that is, until now.  Recently, many articles have been published to sound the alarm on the debt.

EJ Antoni, Research Fellow in The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget points out, “Absent spending reform, eventually no one will be willing to hold the bomb anymore, and the yields on U.S. debt will begin to resemble those in Argentina. That’s when the bomb detonates.”

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