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Trade Talks
Has the US finally borrowed too much?
May 24, 2024
Former Trade Talks co-host Soumaya Keynes discusses the alarming US government debt, fiscal sustainability, Modern Monetary Theory, credit rating agencies' influence, fiscal adjustments, and potential tax cut extensions' impacts on the economy.
30:12
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Quick takeaways
- US government debt is rapidly escalating, surpassing 100% debt to GDP ratio with a forecasted deficit of 6% of GDP.
- Borrowing can be a tool for economic growth if invested wisely, necessitating a balance to ensure sustainable economic health.
Deep dives
US Government Debt and Deficit Concerns
The podcast delves into the growing US government debt, which is escalating, and questions whether the country has borrowed excessively. Statistics reveal the debt to GDP ratio surpassing 100%, with a forecasted deficit of 6% of GDP. The issue is not simply high debt levels but the rapid accumulation of debt. Economist Jason Furman highlights the concerning trend of extensively adding to the debt each year, signaling a challenging fiscal situation.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode