Product Description
In this immensely timely book, Andrew Yarrow brings the sometimes eye-glazing discussion of national debt down to earth, explaining in accessible terms why federal debt is rising (and will soon rise much faster), what effects it may have on Americans if debt is not brought under control, why our government borrows, and what it will take to pay it all back.  The picture Yarrow paints should concern all Americans. Specifically, he brings to light how rising Medicare, Social Security, and other spending on one hand, and insufficient government revenues on the other, make a mockery of fiscal responsibility. Deficits and debt, Yarrow asserts, are crowding out spending on needed investments in science, environment, infrastructure, and other domestic discretionary programs and could severely harm our nation’s and our citizens’ future. But he makes clear that this does not have to be a doomsday scenario. If we act in a bipartisan fashion to restore fiscal health, our legacy to the next generation can be much more than trillions of dollars of IOUs. Â
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 Well-written, informative Must-Read for ages 16-95 ( ejglew )
Yarrow, a former NY Times journalist, with a masters in public policy from the Kennedy School at Harvard and a Ph.D. in 20th Century history from George Mason U., has specialized in this issue at Brookings and now Public Agenda. It takes massive research to suss out exactly what the U.S. owes, as individuals and as incurred by our government. Yarrow has written a highly readable book detailing our debt and the intergeneration dangers of failing to reduce it, and provides suggested action steps. If these steps are to be adopted, it will require every citizen be informed and mobilized to take action.
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A look at the raging national debt and the upcoming crises that are sure to spill out from it ( mwbookrevw )
Debt affects us all - even if we carry none of it personally. "Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility" is a look at the raging national debt and the upcoming crises that are sure to spill out from it in coming years. Examining the upcoming doomsday scenarios facing social security and Medicare, it touches optimistically on the possibility of a much brighter American future for its finances. "Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility" is a scholarly volume, essential for college collections focusing on economics.
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Where Did the Money Go?
We are faced with a myriad of pending catastrophes, from global warming to a nuclear winter. But perhaps one the biggest, but least often reported dangers is the pending economy meltdown as a result of retiring Baby boomers---the largest population yet to exit our national stage. I should know; I'm one of the graying Boomers. But unlike the other potential disasters which face us, there is no real debate here. It will happen as a matter of natural fact. In reality, it is already happening as the first wave of "My Generation" begins to retire. Our children, their children, and even their children face a staggering debt which will--not could---cripple their economy and subsequent quality of life. We currently have the power to solve this dilemma, but lack the collective willpower. Why?
In an effort to fully understand the magnitude and consequences of our current domestic economic policy in layman's terms, I turned to Andrew L. Yarrow's book, "Forgive Us Our Debts: The Intergenerational Dangers of Fiscal Irresponsibility". I won't kid you, it's a tough subject, but Yarrow has done a great job of explaining how we got to where we are; where we're going; and what we can do about it short term and down the road. Yarrow offers excellent examples, backed by current data to support his arguments in an easy to understand format.
So, if you're like me and want to know for the sake of your children and their future, where we're headed, I strongly recommend "Forgive Us Our Debts" by Andrew L. Young.
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 Re: National Debt and Deficits
This book is a well-written introduction to the topic of the U.S. national debt and deficits. It is well-researched and is an easy read. I especially enjoyed the chapter on the history of the debt.
The only drawback to this book was that some of the chapters seemed partisan (slanted slightly left). The slight slant was unfortunate because the national debt and yearly deficits are a problem that need to be addressed in ways that appeal to all Americans, regardless of ideology and political affiliation.
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