The Surreal Nightmare of Federal Finance

A man waits at a bus stop that displays the national debt of the United States in Washington, on June 19, 2020. Olivier Douliery/AFP via Getty Images

Commentary

The federal budget has degenerated into a farcical charade. Today, the federal government’s explicit debt is careening toward the unfathomable sum of $29 trillion. (Let’s set aside for now the much larger number that comprises Uncle Sam’s unfunded liabilities).