Running on Empty
Peterson walks us through the history and development of American political development starting with Lincoln and Jefferson and connects the dots between the lack of insight of current political philosophy and how that is impacting the economic security of our nation.
How dangerous is it for our nations leaders to think deficits don't matter? Incredibly. When Dick Cheney told Paul O'Niel that deficits don't matter, he and President Bush went on a policy bending spending spree that doubled the National Debt and set America up for it's largest economic bubble burst in our history.
Do deficits matter? Better to say nothing matters more. Our country is at risk. We can turn this around, but waiting only makes it harder and more expensive.
Peter G. Peterson explains how our leaders have participated in a delusion that has masked our reality. And the reality is we are in trouble and it's time for us to face the facts and start dealing with the problem. We need to take responsibility and stop the runaway debt that is eating away at our economy. If left unattended, servicing the debt will become our greatest priority. If we let it go that far, we will have sold the reality of the American dream and traded it for the fantasy that 'deficits don't matter'.