America's ballooning debt is a national security problem

The United States’s ballooning national debt might prove more costly than people realize. Far from being just a domestic matter, our debt has national security implications.

Jerome Powell, the chairman of the Federal Reserve, recently told CBS News that “the U.S. is on an unsustainable fiscal path.” Powell pointed out that “the debt is growing faster than the economy.” It is, he noted, “hardly controversial” to say as much. Indeed, in a lamentable first, the U.S. national debt surpassed $34 trillion in early January 2024. Powell’s comments attracted widespread attention from major news outlets. Less noticed, however, is the impact that America’s dire fiscal situation will have on the nation’s foreign policy.