Economics, Econometrics and Finance
4 years ago

Future federal deficits to lead to bleak economic consequences, debt/GDP ratio rising.

SSRN Electronic Journal
Possible Macroeconomic Consequences of Large Future Federal Government Deficits
Ray C. Fair

Paper Summary

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The article analyzes the possible effects of large future government deficits on the US economy. Using a model, the researchers found that without tax increases or spending cuts, the debt compared to the country's GDP will increase significantly by 2020. This could lead to negative consequences for the economy.