Diminishing Quality of Fiscal Institutions in the United States

NCPAMake no mistake — our country is being run by idiots. From the NCPA:

As the debt ratio continues toward imbalance, the United States may experience a reduced rate of economic growth. The diminishing quality of fiscal institutions in the United States is cause for concern, says Thomas Grennes, a professor at North Carolina State University.


The United States’ current fiscal institutions, which include the interaction of Congress, the executive branch, state governments and private lobbyists, have declined in quality as increased spending, reduced taxes and high levels of borrowing have reduced aggregate demand and magnified the intensity of the most recent recession.

Read the post…