What's really going on with America's national debt, and why should any of us care? Dr. Carolyn Bourdeaux is giving us a much-needed lesson in fiscal reality and sounding the alarm bell. A former U.S. Representative from Georgia, Bourdeaux is a public finance expert who holds degrees from Yale, USC, and Syracuse University.
Today, she's the Executive Director of The Concord Coalition, a nonpartisan organization dedicated to educating Americans about the dangers of our growing federal debt and unsustainable fiscal policies. Carolyn and Concord are working to mobilize citizens and pressure lawmakers to get serious about balancing the budget and paying for the promises they make.
In this conversation, Carolyn schools Mike on the difference between debt and deficits, the staggering cost of servicing our national debt, the consequences of kicking the can down the road, and what happens when interest payments begin consuming an ever-larger share of our national resources. Turns out, the math ain't mathin'—and the bill is coming due. The question is whether Washington, and the rest of us, are paying attention.
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