Economist looks into U.S. debt growth
Under the current U.S. course, the ratio of debt to annual output, which now is at 73 percent or twice what it was in 2007, will exceed 100 percent in the next 25 years, according to the Congressional Budget Office projections. “That’s unprecedented; it hasn’t happened since World War II,” said Michael Pries, associate professor of economics at Notre Dame. Most troubling are the reasons for the unprecedented growth in debt. Read more…
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