I suppose that like Tiger Woods’ average round score over the past five years, our federal debt/GDP ratio has been trending the wrong way
The recession, starting in 2007-8, has had a devastating effect on both:
- federal tax revenues, now at a historical low as a percent of G.D.P.
- federal spending, now at a historical high.
Not promising.
Perhaps entering UPenn during the onset of the Great Recession made me pre-law. Don’t regret my decision as a freshman. Nevertheless, this economy, and the current Congressional gridlock, is too disenchanting for even this self-proclaimed non-myopic optimist.
