Navigating U.S. Fiscal Challenges

This chapter explores the intricate dynamics of borrowing costs and their implications for the fiscal outlook in the United States. It underscores the pressing need for bipartisan fiscal reforms, combining spending cuts and tax increases to stabilize the national debt, while cautioning against short-term solutions that could endanger economic growth. Additionally, it highlights the potential dangers of neglecting long-term fiscal planning, urging policymakers to acknowledge and address the current financial challenges to prevent dire future consequences.