Yes, interest rates are low. But that doesnt mean debt doesnt matter.
By William Gale,
byWilliam Gale
Despite a strong economy, the U.S. budget deficit recently rose by nearly40percent year over year, largely because of the tax cuts passed in 2017 and the spending deal approved in 2018. Federal debt the accumulation of past deficits reached itshighest level ever relative to the economy, with the exception of a few years around World War II. And thats before financial shortfalls for Social Security and Medicare occur and send debt to unprecedented levels. Some conservatives warn of a comingdebt crisis, whileleading
liberal economists argue that we can ignore deficits and debt at this time. Several myths are muddling the …
Read the full article at: https://www.washingtonpost.com/outlook/five-myths/five-myths-about-federal-debt/2019/04/26/28d8e78c-66d4-11e9-82ba-fcfeff232e8f_story.html