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What is Impact of High National Debt on Growth about?
Three studies from different economists found that high government debt has a negative effect on long-term economic growth. When debt reaches 90% of GDP, it can reduce annual GDP growth by about 0.2 percentage points for every 10% increase in the debt-to-GDP ratio. The U.S. debt level is currently around 84% of GDP according to IMF estimates, putting it in the danger zone where debt drag substantially slows growth. If debt increases further, it could cost Americans trillions in lost income and lower wages o
- Author
- prince marc
- Language
- EN