Debt

Phillip L. Swagel, CBO’s Director: As a result of the persistently large deficits, federal debt held by the public is projected to rise to $31.4 trillion at the end of 2030—an amount equal to 98 percent of GDP. At that point, debt would be higher as a percentage of...

Debt Danger

At the Federal Reserve Bank of St. Louis, Scott A. Wolla and Kaitlyn Frerking have a paper titled “Making Sense of the National Debt.”  The conclusion: The national debt is high by historical standards—and rising. People often assume that governments must...