"We are postponing another rendezvous with reality."

Victor Davis Hanson writes in part in PJ Media,

...In the first two decades of the 21st century, the United States has faced three existential crises. The first was the 9/11 terrorist attack on the World Trade Center and the Pentagon, which prompted a global effort to fight radical Islamic terrorism. The second occurred in 2008 when the U.S. financial system and stock market nearly collapsed. The third began earlier this year with the COVID-19 epidemic and quarantines that reduced the economy to its most shaky state since the 1930s.

...During the first two crises, we snapped back the economy with low interest rates, increased government spending and larger annual deficits — and passed the greater long-term debt to another administration, another Congress and another generation of Americans.

We are postponing another rendezvous with reality. But as we near $30 trillion in debt, what cannot go on much longer soon probably won’t.

Read more here.