U.S. Debt Exceeds 100% of GDP, But Washington Dismisses the Milestone
By
Peter Coy
Summary
The article discusses the U.S. federal debt surpassing 100% of GDP, a milestone that deficit hawks hoped would shock the public into action. However, the piece argues that this alarming figure is not the real problem, as Washington quickly brushed off the milestone. The Committee for a Responsible Federal Budget calculated the March level of federal debt held by the public as a share of GDP, calling it a particularly loud alarm bell about the nation's fiscal path.
Source
bskyU.S. Debt Exceeds 100% of GDP, But Washington Dismisses the Milestonenytimes.comKey quotes
· 3 pulledWe've heard plenty of alarm bells in the past few years about our fiscal path, but this one rings especially loudly.
Debt had shot past 100 percent of gross domestic product.
Washington quickly brushed off a startling milestone in a mounting problem.
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