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Glenn Hubbard Explains The Doomsday Scenario That America Will See In 20 Years If There's No Change In Spending

Joe WeisenthalJun 24, 2013, 21:16 IST

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We recently had Glenn Hubbard, dean of the Columbia Graduate School of Business, into discuss his book Balance: The Economics of Great Powers from Ancient Rome to Modern America.

Hubbard's main argument is that the US must reduce its long-term deficit, and that if it's not addressed, then within 20 years the US will see a "doomsday scenario" of virtually no social spending and monstrous taxes.

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