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Tuesday, August 01, 2017

From “ticking time bomb” to “looming collapse.”

Are you still here? I am, though one wouldn’t know it by the endless, hysterical headlines regarding the federal budget.
Just by way of reminder:
Back in 1940, the federal budget was a “ticking time-bomb which can eventually destroy the American system,” said Robert M. Hanes, president of the American Bankers Association.
By 1960: the debt was “threatening the country’s fiscal future,” said Secretary of Commerce, Frederick H. Mueller.
By 1983: “The debt “probably will explode in the third quarter of 1984,” said Fred Napolitano, former president of the National Association of Home Builders.

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