{"id":174506,"date":"2010-01-13T10:43:58","date_gmt":"2010-01-13T15:43:58","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/01\/13\/report-warns-about-public-debt\/"},"modified":"2010-01-13T10:43:58","modified_gmt":"2010-01-13T15:43:58","slug":"report-warns-about-public-debt","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/174506","title":{"rendered":"Report Warns About Public Debt"},"content":{"rendered":"

U.S. policymakers must prevent a rapidly ballooning public debt from rising above 60% of the nation’s output over the next decade, two nonprofit think tanks said in a report<\/a> released Wednesday.<\/p>\n

U.S. debt, which has grown to more than 50% of gross domestic product from around 40% of GDP only two years ago, will inevitably rise further in 2010 as the government fights the economy’s downturn, said the National Research Council<\/strong> and the National Academy of Public Administration<\/strong> in a report.<\/p>\n

But President Barack Obama<\/strong>’s administration must begin to tackle the debt problem with higher taxes or bigger spending cuts from the end of 2011, with the aim of cutting it over several years.<\/p>\n

Delaying action for five or 10 years will make addressing the problem more painful and costly, requiring even higher taxes or lower levels of government services, the report noted.<\/p>\n

“Increasing debt also may contribute to a loss of investor confidence in the nation’s economy, which would, in turn, lead to even higher interest rates, lower domestic investment, and a falling dollar,” the report said.<\/p>\n

Economists have long worried that an aging population and growing health-care costs could cause the U.S. budget deficit and debt to balloon, undermining confidence in the U.S. dollar.<\/p>\n

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U.S. policymakers must prevent a rapidly ballooning public debt from rising above 60% of the nation’s output over the next decade, two nonprofit think tanks said in a report released Wednesday. U.S. debt, which has grown to more than 50% of gross domestic product from around 40% of GDP only two years ago, will inevitably […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-174506","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/174506","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=174506"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/174506\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=174506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=174506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=174506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}