Commentary: Politicians underestimate debt damage

02/10/2010 | TIME (subscription required)

"The only thing that reliably grows in our economy is the public debt," Jeffrey D. Sachs writes in a TIME magazine commentary. The government is "utterly paralyzed" in addressing the issue, Sachs writes, and escalation of the national deficit is leaving the country in a "first-rate mess." Homeland security, unemployment compensation, and support for state and local governments are only some of the programs being funded by debt, Sachs notes.

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