1 Dynamics of a Democracy Deeply in Debt: Simulation Studies of Federal Revenue and the Capacity of the U.S. to Service its Debt

The issue of the growing federal debt and whether it will be serviceable in the years to come is addressed. Can the U.S. federal government continue to expect its tax revenues to rise to the occasion? Will the retirement of seventy-seven million baby boomers result in diminished federal revenue after the year 2010? Will the changing tax structure reduce federal revenues? Will these circumstances lead in-turn to an incapacity of our federal government to service its burgeoning national debt, now nearly nine trillion dollars? Are there probable disaster scenarios that policymakers must navigate through using judicious policy choices? Is it time to start drastically cutting the federal budget? These are the questions that get addressed by the simulation models we will present