SAY this about all the bickering over the federal debt ceiling: at least people are talking openly about our nation?s growing debt load. This $14.3 trillion issue is front and center ? exactly where it should be.
Into the fray comes?a thoughtful new paper by Joseph E. Gagnon, a senior fellow at the Peterson Institute for International Economics, which studies economic policy. Written with Marc Hinterschweiger, a research analyst there, the report states plainly: ?That government debt will grow to dangerous and unsustainable levels in most advanced and many emerging economies over the next 25 years ? if there are no changes in current tax rates or government benefit programs in retirement and health care ? is virtually beyond...
Related Topics: economy, debt
Source: http://www.realclearpolitics.com/2011/05/29/us_has_binged_it039s_time_to_pay_the_tab_256296.html
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