In a recent interview with CNBC, Kenneth Rogoff, Harvard University’s Maurits C. Boas Professor of Economics and former chief economist at the International Monetary Fund (IMF), warned that the United States is hurtling toward an unavoidable debt crisis, citing concerns about annual deficits and a lack of political urgency. Rogoff cautioned that the situation may only change in the wake of a major crisis, a shock that would have significant ramifications for the United States and the global economy. As the national debt steadily grows, economists who were once relaxed about budget deficits are now alarmed. […]