Heading toward National Insolvency | Doug Bandow | Cato Institute: Commentary

Heading toward National Insolvency | Doug Bandow | Cato Institute: Commentary: "The full national debt already is 100 percent of GDP, compared to about 84 percent for Europe."

"Putative Republican presidential nominee Mitt Romney promises to be tough on federal spending, but nothing in his past behavior suggests that he takes this promise any more seriously than he has treated the many positions he has cheerfully tossed aside when he thought doing so was to his political advantage. Believing that Republicans, if victorious come November, will rein in Uncle Sam, is, like a second marriage, the triumph of hope over experience."