Source: Washington Post
by George F Will
“With annual deficits approaching $2 trillion even with the economy humming, and with defense spending down to around 3 percent of GDP (above 13 percent during the Korean War; above 9 percent during peak Vietnam), what can cause sustained economic growth of at least 5 percent to cope with the debt’s growth? Artificial intelligence? A risky reliance. Revenue from the president’s perhaps unconstitutional tariffs? A net drag on the economy. A nation that used to borrow for emergencies now is mired in a perpetual emergency because it is borrowing — $2.6 trillion annually projected by 2034 — to fund current consumption of government goods and services.” (11/14/25)