The U.S. Debt Challenge: Should South Carolinians Worry?
We frequently hear how the U.S. is in a “debt crisis.” The U.S. Debt Clock presents debt data in real time. Is this level of debt really a problem? If so, what should South Carolinians do about it? Productive Uses of Government Debt Though most of us would prefer a smaller federal government without any debt, debt can serve legitimate purposes when used correctly. Borrowing allows the government to continue operating despite revenue volatility (e.g., tax collections are