Losses Hurt More Than Gains

In an op-ed posted by Paul Volcker and Peter Peterson in the NYT, the two financial titans start off by pointing out just how “strange” the current presidential campaign is in its historical context…
Together, the two of us have 179 years of life experience and 13 grandchildren. We have served presidents of both parties. We have seen more campaign seasons than we care to count – but none as strange as this one. Insults, invective and pandering have been poor substitutes for serious debate about the direction in which this country is going – or should be going. And a sound and sustainable fiscal structure is a key ingredient of any viable economic policy.
… but the main issue that troubles the two financial titans, is the lack of any practical discussion of the soaring US debt during the entire bizarre campaign – the one issue both agree is the biggest challenge facing the US economy today:

This post was published at Zero Hedge on Oct 23, 2016.