Paul L. Caron
Dean





Wednesday, July 13, 2016

CBO:  In 30 Years, U.S. Will Have Highest Debt-To-GDP Ratio In Our History—141%

Congressional Budget Office, The 2016 Long-Term Budget Outlook:

If current laws remained generally unchanged, the United States would face steadily increasing federal budget deficits and debt over the next 30 years—reaching the highest level of debt relative to GDP ever experienced in this country. 

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https://taxprof.typepad.com/taxprof_blog/2016/07/cboin-30-years-us-will-have-highest-debt-to-gdp-ratio-in-our-history141.html

Congressional News, Tax | Permalink

Comments

"Anyway, most of our debt is owned by ordinary Americans."

So, Captain, what % of the national debt is owned by ordinary Americans? A simple answer to that simple question would demonstrate some literacy on this issue.

Posted by: MM | Jul 15, 2016 7:41:25 AM

Captain's views are not so different from those of Edward Kleinbard and Paul Krugman. I suppose Messrs. ATM and mike think Kleinbard and Krugman are also economic illiterates. But anyway, could we argue the issues instead of calling names?

Posted by: Publius Novus | Jul 14, 2016 12:50:44 PM

The Captain, economic illiterate....lololololol.

Posted by: mike | Jul 14, 2016 12:29:24 AM

All of our debt is based on perceptions of stability and whether we can manage it. Full Faith and Credit. Although we have come close with folks like Issa and Ted Cruz, Gingrich at the helm who would love to see the GUB'MINT default to "drown it"----and not raise the debt ceiling.

Posted by: Captain Hruska Carswell, Continuance King | Jul 13, 2016 11:46:43 PM

"Anyway, most of our debt is owned by ordinary Americans."

How much, Cap'n?

Posted by: MM | Jul 13, 2016 6:41:51 PM

Soooooo? Who will foreclose on the US? China you say? They have far worse debt than us. They also have structural economic issues: A sustainable, high value economy. They are the world's "factory," but that is not sustainable. How many trinkets do we need? The US has the most sustainable, predictable, stable economy in the world. We are the economic locomotive for the world. Anyway, most of our debt is owned by ordinary Americans. This debt is not at all like a family budget...

Posted by: Captain Hruska Carswell, Continuance King | Jul 13, 2016 12:42:50 PM

Thank goodness we no longer have to fight the "current policy" vs. "current law" baseline wars. The picture is bad enough without that. We need all minds focused on the actual problem rather than its definition.

Posted by: AMTbuff | Jul 13, 2016 6:21:57 AM