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Navigating the Discussion on National Debt and Debt Benchmarks
Policymakers must acknowledge the unsustainable path of national debt. A shift in attitude towards the national debt's significance is observed. Mention of a desirable debt benchmark to prompt necessary actions and tough decisions. The notion of a magic red line for debt is highlighted as a potential tool to drive political focus and decision-making. Despite the absence of a definitive debt crisis trigger point, the concept of a set benchmark is seen as a constructive force to address the nation's financial challenges.