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The Economist’s Allison Schrager writes about America’s future:

Willem Buiter reckons the American debt situation has gotten so bad that future policy makers will face two options: default or inflate. That’s certainly a possibility, but not yet inevitable. If the American economy experiences reasonably high growth in the future (at least on par with the last few decades) AND the government miraculously summons the political will to cut entitlements, America can spare itself a sovereign debt crisis.

Hmmm. I could swear there’s an alternative that’s missing here. Maybe something you could do in addition to cuts. But what? The opposite of cutting something, I suppose. Damn. It’s on the tip of my tongue. I’m sure it will come to me in a few more minutes.

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FACT:

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Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation today so we can keep on doing the type of journalism 2021 demands.

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