Four Steps to US Fiscal Health
The US has a significant budget deficit, likely to be $1.3 trillion (10% of GDP) this year, and the long-term forecasts are worrying. While America can finance these deficits in the short term, if there is no serious effort at fiscal consolidation, serious trouble lies ahead, both for the US and for the world economy.
https://prosyn.org/J9PSs9u
WASHINGTON, DC – The United States has a significant budget deficit, likely to be $1.3 trillion (10% of GDP) this year, and the long-term forecasts are worrying. According to the Congressional Budget Office (CBO, the leading nonpartisan experts), Social Security, together with Medicare, Medicaid, and other health-care programs, will grow to consume almost all tax revenues by 2035.