Source: The Daily Economy
by Romina Boccia
“US public debt has reached 100 percent of GDP (gross domestic product) for the first time since the aftermath of World War II. Just because we have been here before, and we managed, doesn’t mean we will do so again. This time is different in important ways that are underappreciated by both policymakers and the public. In 1946, the United States emerged from a global war with high debt, but also with a young population, strong growth prospects, and a political commitment to fiscal restraint. Today, America faces the opposite: an aging population, structurally rising entitlement spending, and persistent deficits with no credible plan to rein them in.” (05/05/26)