There is now widespread concern that the US faces an unsustainable fiscal future under current policies. The rise in the debt-to-GDP ratio since 2001 can be explained by responses to the Global Crisis and Covid-19 pandemic, as well as tax cuts and discretionary spending increases. This column argues that after incorporating the One Big Beautiful Bill Act, debt-to-GDP is projected to rise to 183% by 2054, under conservative assumptions. Without a return to an earlier period of fiscal

Tag-uri: Coronavirus