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7min chapter
Invaluable bonds: rising borrowing costs
Economist Podcasts
Rising Borrowing Costs and Government Budgets
This chapter examines the impact of increasing borrowing costs on government budgets amidst rising debt interest expenses and higher bond yields. It discusses the potential need for governments to cut spending or raise taxes in response to financial market shifts and considers the implications for programs like Medicare and Social Security. Additionally, the chapter explores ongoing budget debates and the long-term financial challenges prompted by heightened interest rates and significant government debt.
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