LGOV - The National Debt Sinkhole: How Government Addiction To Debt Will Be Our Economic Undoing

We have always found, where a government has mortgaged all its revenues, that it necessarily sinks into a state of languor, inactivity, and impotence.

— David Hume, 1752

Introduction

In response to the coronavirus pandemic and the resulting economic shutdowns, all kinds of debt has been raised. Government debt in particular has skyrocketed.

From March 1st to May 5th, Treasury borrowing increased by $1.8 billion, with the vast majority of that occurring in April. The growth rate of Treasury debt seems poised to continue indefinitely. The Treasury Department expects around $3 trillion of newly issued

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