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Showing posts with the label Senator John McCain

2017 Fiscal Summit by Henry Zhang, Impact Investing Intern, University of Toronto

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The US is in major trouble, this being the gigantic amount of debt it has issued. The debt burden is getting bigger by the second and shows no sign of stopping.

For those that aren’t sure what this means, it means less public spending in the future, more inflation, and a large scale economic crisis ahead.

Major trouble attracts major attention, so on May 23rd, 2017, the well known Peter G. Peterson Foundation hosted the 2017 Fiscal Summit, with prominent speakers like Senator John McCain, Senator Mark Warner, House Democratic Leader Nancy Pelosi (and many others) all convening to discuss the national debt, the current political landscape, and implications of the debt for the nation's future.

The key message from the conference is this: nothing can be done and nothing will be done unless the Republicans and the Democrats work together. Right now, there’s little hope for that.

Bipartisanship is an unknown land at this point, and very, very far away, since each party sees the other …