The U.S. National Debt: Boon, Burden, or Banality?
The U.S. national debt now exceeds $17 trillion, double what it was in 2006 and 110% of annual U.S. output (GDP), the highest proportion since WWII. Yet the U.S. Treasury has been borrowing at record-low interest rates in recent years. What explains this “paradox of profligacy?”
Keynesians like Paul Krugman insist that deficit spending, which adds to the national debt, is a boon to the economy. Austrians like Peter Schiff decry deficit spending and national debts as a deferred burden imposed on future generations, yet also warn that the national debt will crush the economy “eventually.” Others suggest that the national debt is a mere banality – an inconsequential, largely innocuous sum of taxpayer liabilities which are likewise assets (bonds) held by investors (we “owe it to ourselves”).
Dr. Salsman examines the truths and falsehoods in these varied accounts and suggests the likely future course of the national debt – and of the U.S. economy.
A Dinner and Talk featuring
Dr. Richard Salsman
President InterMarket Forecasting, Inc.
Saturday, May 3, 2014
5:00 – 9:00 PM
95a Bistro & Sushi
1381 Forest Park Circle
Lafayette, CO 80026
5:00 PM: Cocktails, Dinner (Cash)
7:00 PM: Announcements
7:15 PM: Talk with Q/A, Richard Salsman
Advance General Admission: $35 per person ($40 after 4/27)
At the Door General Admission: $40 per person
Seating at Head Table with Speaker Upgrade (space limited): $40
Please Note: Purchase does not include dinner; order directly at event
Online reservations before May 1, 2014, or at the door.
See also http://www.facebook.com/HungryMindsSpeakerSeries
About the speaker:
Dr. Richard M Salsman is founder and president of InterMarket Forecasting, Inc., an economic-investment consulting firm. He previously worked as an economist for Wainwright Economics, Inc. and as a banker for the Bank of New York and Citibank.
Dr. Salsman has authored two books, six chapters, and scores of articles. His worked has appeared in the Georgetown Journal of Law and Public Policy, the Wall Street Journal, the New York Times, Forbes, the Economist, the Financial Post (Canada), The Intellectual Activist, and The Objective Standard (where he is also a Contributing Editor). Since 2010 Dr. Salsman has been a regular essayist at Forbes.com.
He earned a B.A. in economics from Bowdoin College (1981), an M.A. in economics from New York University (1988), and a Ph.D. in political economy from Duke University (2012). His dissertation, “The Political Economy of Public Credit,” explores the theory, history, and consequences of government borrowing.
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