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Talking Points on "America's Imminent Budget Crisis": Focus - Washington Center for Equitable Growth

Right now, the financial markets are telling us that for the next 20 years at least they expect not a surplus but rather a shortage of federal debt. The interest rates at which investors are willing to hold federal debt now and expect to hold federal debt in the future tell us that it is an extraordinary valuable asset Those interest rates tell us that investors at least think the world economy would be better off with more federal debt than with less. The arguments against having a larger federal debt now are essentially four: that it would be unfair to future generations, that is a source of uncertainty that drags on the economy, that it is a point of vulnerability, and that we cannot trust future congresses to do the right thing to finance it should circumstances change.
#Macroeconomics #Fiscal-Policy #Interest-Rates #Debt - equitablegrowth.org