| ID | 163309 |
| Title Proper | Who’s afraid of budget deficits? |
| Other Title Information | how washington should end Its debt obsession |
| Language | ENG |
| Author | Summers, Lawrence H ; Furman, Jason |
| Summary / Abstract (Note) | The United States’ annual budget deficit is set to reach nearly $1 trillion this year, more than four percent of GDP and up from $585 billion in 2016. As a result of the continuing shortfall, over the next decade, the national debt—the total amount owed by the U.S. government—is projected to balloon from its current level of 78 percent of GDP to 105 percent of GDP. Such huge amounts of debt are unprecedented for the United States during a time of economic prosperity. |
| `In' analytical Note | Foreign Affairs Vol. 98, 2, Mar-Apr-2019; p82-95 |
| Journal Source | Foreign Affairs Vol: 98 No 2 |
| Key Words | GDP ; United States ; Economic Growth ; Social Security ; Policymakers ; Budget Deficits |