-->Snowdrifts of Debt

by Christopher Mayer

[Posted April 6, 2004]

The following article is from the April issue of The Free Market, available to members of the Mises Institute.

Debt is an institution in American government, long established and widespread. A cursory glance at debt statistics will quickly show that there has been a lull in the truth about debt, namely, that it cannot grow indefinitely at the rate at which it has been growing—at least not without a serious revaluation of the dollar, something we are already in the midst of seeing.

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