1. AMERICAN PROFLIGACY AND AMERICAN POWER.
- Author
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Altman, Roger C. and Haass, Richard N.
- Subjects
- *
FISCAL policy , *DEBT , *GROSS domestic product - Abstract
The article explores the fiscal irresponsibility of the U.S. government and its consequences. According to the Congressional Budget Office, federal debt could reach 90 percent of the gross domestic product (GDP) within ten years. The country's debt is the dollar-for-dollar result of deficits. Federal debt has essentially increased over the past decade from 2000-2010. According to the author, the country's growing debt will not be restricted to the behavior of markets or central bankers.
- Published
- 2010