Yes, I have already listened to this book twice. The book is not only very interesting from a historical reference, but debunks so much of the disinformation and hyperbole in the political rhetoric today.
Our nation faces some serious problems, and as a nation we need to have an intelligent discussion on how we are going to address these problems.
Johnson and Kwak have done an excellent job of explaining deficits, our debt, and how to look at our fiscal responsibilities in relation to our GDP, creditworthiness, and the dollar as the world's reserve currency.
Of particular interest, was how attitudes to government debt evolved from our very beginning as a fragile new nation, through crisis of war and depression, and into today, where US treasuries are the world's choice as a safe haven investment.
The book takes a very sobering look at Social Security, Medicare and what our future costs will be if we don't make some important decisions soon. It looks at the current debt that was created by the two wars, the Bush tax cuts, and the financial crisis, all in what I felt was an objective and nonpartisan analysis.
We as a nation need to make some decisions on how we are going to solve these problems. This book gave me a historical view of past financial crisis and how we got through them, which gave me some hope that despite the political grid lock in Washington we might be able to do it again.
The final chapters offered what the authors felt was a fair and reasonable solution to the debt crisis. I agreed with their solution, but even if you don't agree with their solution, the book offers other possibilities that should be discussed.
There is a solution. There is hope. We can, and must fix this for our children, and future generations. It's not as dire as some would have us believe, but we do have to start now. This book is a great starting point for getting the facts straight, so that we can have a reasonable, and rational discussion of what path we are going to layout for our country's future.
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