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On September 8, 2017, the U.S. debt surpassed $20 trillion for the first time. In fiscal year 2020, the national budget will record the first $1 trillion deficit since the financial crisis of the last decade. Furthermore, if projections are borne out, US debt-to-GDP ratio will exceed 100 percent in 2028—a higher debt burden than the federal government has faced since the end of World War II.
But what does all of this mean for you and your business?
Time to Face Up, a new policy brief from the Committee for Economic Development (CED), outlines the causes and consequences of America’s looming debt crisis—and a path to long-term solutions for restoring fiscal health. Dive deeper into the core issues at stake with CED’s two-part Debt 101 primer series: What is the “national debt” and why does it matter? and How Do We Fix The Debt?
As always, we’d love to hear your voice and concerns on this defining national challenge—and any of our other policy and economic insights featured below.