National debt is surging higher. Here’s why worry is heading lower.
Politicians of both parties have long kicked concerns about national debt down the road. Now an era of low interest rates and a focus on economic recovery push the value of fiscal responsibility even further out of sight.
Like the swallows to Mission San Juan Capistrano and the buzzards to Hinckley, Ohio, the doves on government debt have returned to Washington.
And in a big way.
The numbers tell the story. Last year, in the face of a once-in-a-century health emergency, a Republican president pushed massive spending bills that pushed...