The U.S. government debt is massive -- and growing out of control. Our debt is a burden on our grandchildren; failing to decrease it today is selfish and myopic. Those are statements that most Americans have become accustomed to hearing. They're also two of seven widely propagated myths which 2004 Nobel Laureate and W. P. Carey School professor of economics Edward Prescott sought to dispel in a recent presentation at the Economic Club of Phoenix.<br><br><a href='http://knowledge.wpcarey.asu.edu/index.cfm?fa=viewfeature&id=1321' target='_blank'>http://knowledge.wpcarey.asu.edu/index.cfm?fa=viewfeature&id=1321</a><br><br>