James Grant Points Out US is Broke, Left Goes Nuts

Last week James Grant, friend of the Mises Institute and prolific financial commentator and historian, wrote Time’s cover story detailing the fiscal shape of the United States. Since Grant was Ron Paul’s choice for Fed Chair, it should be no surprise that the article reads like a Doom Paul meme in essay form:
We owe more than we can easily repay. We spend too much and borrow too much. Worse, we promise too much. We conjure dollar bills by the trillions – pull them right out of thin air. I won’t insist that this can’t go on, because it has. I only say that it will eventually stop.
Unfortunately for us, James Grant is right. The US government has grown far too large, spends way too muchand has an economy supported largely by increasingly absurd monetary policy. While these basic facts are obvious to most that follow the news, the response from the left reminds us of their never-ending war on reality:
While it’s difficult for anyone to tweet out a true critique of an article you disagree with, Jordan Weissmann’sresulting blog post indicates that he didn’t read Grant’s piece before attacking.

This post was published at Ludwig von Mises Institute on April 20, 2016.