question archive As the US debt increases funds will be required to pay the interest on the debt and this will take up increasing percentages of government revenue
As the US debt increases funds will be required to pay the interest on the debt and this will take up increasing percentages of government revenue
Subject:EconomicsPrice:2.88 Bought3
As the US debt increases funds will be required to pay the interest on the debt and this will take up increasing percentages of government revenue. Since there is a reluctance to increases taxes or undertake austerity how will this get paid down?
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The United States has a national debt of $22.3 trillion as of June 2019. The United States has the highest national debt compared to any other developed economy. Since there is a reluctance to increase taxes or undertake austerity, the best way to pay off the debt is to ensure that the economy of the US grows faster than the national debt. If the US government is able to increase the GDP growth rate, then the Debt-to-GDP ratio will itself decline.
