U.S. could be headed toward financial ruin

The National Debt Clock in New York City gives a glimpse of each American family's share of the debt. (Wikimedia Commons)

The National Debt Clock in New York City gives a glimpse of each American family's share of the debt. (Wikimedia Commons)

Is the Federal government spending us into financial ruin? The current numbers and budget projections suggest so. Yet I think that the scary numbers reflect an unresolved conflict over the role of government more than a threat of bankruptcy.

The national debt of the United States, the accumulated borrowing since the Republic’s founding, stands at…

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