by jpitney | May 14, 2020 | Debt, Economic Policy
Coronavirus is accelerating the already-serious problem of federal debt. James McBride, Andrew Chatzky, and Anshu Siripurapu at the Council on Foreign Relations: The United States’ debt-to-GDP ratio is among the highest in the developed world. Among other major...
by jpitney | May 7, 2020 | Debt, Economic Policy
Former Senator Judd Gregg (R-NH) at The Hill: The deficit for this year is now projected to exceed $4 trillion. This makes the deficit approximately four times larger then any deficit ever wrung up before. The debt we will owe as a nation will exceed our gross...
by jpitney | Apr 15, 2020 | Coronavirus, Debt, Economic Policy
From the Committee for a Responsible Federal Budget: The United States entered the current public health and economic crisis facing high levels of debt and trillion-dollar deficits. Due to the effects of the crisis and legislation enacted to combat it, debt and...
by jpitney | Jan 29, 2020 | Debt, Economic Policy
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...
by jpitney | Nov 27, 2019 | Debt, Economic Policy, Uncategorized
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...
