https://www.scmp.com/rss/515790/feed R. James Breiding is the author of Swiss Made: The Untold Story Behind Switzerland’s Success and Too Small to Fail: Why Some Small Nations Outperform Larger Ones and How They Are Reshaping the World. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Since 1960, the United States has raised its debt ceiling 78 times – soon to be 79, if Congress approves the latest last-minute deal. On a wall in Manhattan, not far from Times Square, a billboard-size display has kept a running tally of the national debt amount. Since its inauguration in 1989, the National Debt Clock has ticked inexorably higher, from US$2.7 trillion to more than US$31 trillion today. Never before has America or the world economy been so indebted. Since 2000, the stock of... https://www.scmp.com/comment/opinion/article/3222286/us-needs-swiss-style-debt-brake-limit-government-spending-and-borrowing?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3222286/us-needs-swiss-style-debt-brake-limit-government-spending-and-borrowing?utm_source=rss_feed Tue, 30 May 2023 12:15:07 +0000