Mises Wire
Author:
Hans F. Sennholz
Online Publish Date:
This old English proverb concisely describes the financial condition of many Americans. Household debt is rising at an 8.8 percent annual rate, home mortgage debt at 14.2 percent. Total debt in the United States doubled from 1998 to 2002, from $16 trillion to $32 trillion and may double again in the next five years. The Federal government,