Monday, July 30, 2012

Peterson on the Debt

From an article by Peter G. Peterson on how to handle the long-term debt:

If current policies continue, the nonpartisan Congressional Budget Office recently projected, federal debt will rise from 70 percent of gross domestic product today to about 225 percent by 2040 — not even remotely sustainable. By that point, the federal government would be spending nearly four times as much on debt interest payments as on education, skills training, research and development and nondefense infrastructure combined.

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