Federal Debt Matters, and It Matters Now

There are a lot of consequences to the federal government carrying a large debt burden, and the federal government will reach debt levels of 80% of GDP soon. There might not necessarily be a hard number that federal budgeters should try to stay below, but less debt is generally better than more debt. The Committee for a Responsible Federal Budget is out this week with an estimate of just how deep cuts need to be to get debt burden down into the 60% range.
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