Committee on the Fiscal Future of the Un National Research Council National Academy of Public Administrat
A mismatch between the federal government's revenues and spending, now and in the foreseeable future, requires heavy borrowing, leading to a large and increasing federal debt. That increasing debt raises a serious challenge to all of the goals that various people expect their government to pursue. It also raises questions about the nation's future wealth and whether too much debt could lead to higher interest rates and even to loss of confidence in the nation's long-term ability and commitment to honor its obligations. Many analysts have concluded that the trajectory of the federal budget...
A mismatch between the federal government's revenues and spending, now and in the foreseeable future, requires heavy borrowing, leading to a large ...