Two recent pieces of budget news are a grim reminder of the perilous state of fiscal policy in the United States. President Barack Obama’s Office of Management and Budget announced that the federal government’s deficit this fiscal year will be about $600 billion, up by $162 billion from 2015, an increase of more than 35%. And the annual Long-Term Budget Outlook produced by the Congressional Budget Office (CBO) predicts that, with no change in fiscal policy, federal government debt will rise from 75% of GDP to 86% a decade from now, and then to a record 141% in 2046, near levels in Italy, Portugal, and Greece.
https://www.project-syndicate.org/commentary/america-rising-debt-ratio-by-martin-feldstein-2016-07
I-BRIDGE's blog (Link Campus University's Research Centre on Global Affairs) - editor, Marco Emanuele - Critical thinking, complexity, international relations (Twitter, @Glob_Eye - Facebook, https://www.facebook.com/marco.emanuele.50)
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