US federal debt has climbed from 35% of GDP in 2007 to roughly 100% today. Karen Dynan and Douglas Elmendorf at Harvard explain the risks of high and rising federal debt, and the ways in which a fiscal crisis could unfold.
econofact.org/explainer/fe...
Executive Summary High and rising federal debt, combined with concerns about policymakers’ willingness and ability to manage the government’s finances, increase the risk of a fiscal crisis in which in...
