The rise in the national debt... is entirely a consequence of the federal government’s increase of expenditures without an offsetting increase in revenues.

The government increased payments to individuals without reducing spending elsewhere in the budget.

The U.S. national debt now exceeds 100 percent of gross domestic product. Given that a significant amount of this debt is the result of governmental efforts to mitigate the effects of the financial crisis, the recession, and the anemic recovery, it is tempting to think that the debt problem is a...