The Innovation Imperative

Source: Law & Liberty
by David P Goldman

“Our $35 trillion national debt costs us 2.3 percent of our GDP to service, and that will rise to 7.2 percent of GDP by 2053, according to the Peterson Institute, levels we associate with Third World nations skirting national bankruptcy. The implications for national security are dire. We know that America’s military power is declining. But nothing on the political horizon will persuade Americans to pay higher taxes to support higher defense outlays, especially after a quarter-century of frustrating forever wars. The dominant meme of our national strategic discourse is lifeboat economics: Do we throw Ukraine under the bus or Taiwan?” (05/29/24)