Economist offers bipartisan plan to avoid financial crisis by stabilizing America's surging national debt

America's national debt hit $35 trillion for the first time late last month, and with large budget deficits set to continue to push the debt to astronomical new heights in the decades ahead, an economist has put forward a bipartisan plan to stabilize the debt and avert a future debt crisis.

"If we want to avoid a debt crisis, significant reforms need to be phased in within the next few years, otherwise the debt grows too large, too many baby boomers are retired to absorb reforms, the cliff becomes too high," Brian Riedl...