An economic specter haunts America. It’s also one that many American politicians – Republican and Democrat – say a great deal about but are reluctant to address. The name of that shadow is the United States National Debt: what the US Treasury Department defines as “the amount of money the Federal Government has borrowed to cover the outstanding balance of expenses incurred over time.” If you go to the Treasury’s website, you can see just how big that debt is. In mid-May, it was 34.5 trillion dollars. The pace of the growth in that debt is equally stunning. Approximately 1 trillion dollars is being added to America’s National Debt every 100 days. Historically-speaking, America’s National Debt has taken on huge proportions during national emergencies like World War II. Funding such extraordinary measures, as well as more mundane government activities like infrastructure-development, is what the US National Debt has traditionally been used for. America isn’t, however, presently fighting an all-out hot war with an adversary akin to Nazi Germany bent on world-domination. Nor is the Federal Government spending much on infrastructure, judging from the state of America’s highways. The truth is that the rapid growth in America’s National Debt is driven...