The Solution to the Country’s Debt and Deficit Problem

Dean Baker
Senior Economist at The Center for Economic and Policy Research (CEPR)

Editorial Credit: Chinese 100 Renminbi and 100 U.S. dollar bills: Dan Hanscom Photography / Shutterstock.com

For most people, the country’s national debt and annual deficit are not major concerns. However, for a substantial portion of the policy types who make, write, and talk about economic and budget policy, debt and deficits are really big deals. And, the fact that our budget deficit and debt are both large by historic standards, and growing rapidly, is an especially big deal.

The list of people in this category is lengthy. It starts with the Peter J. Peterson Foundation (which displays the debt in big numbers right on its home page) and the many groups funded by them. The most important is the Committee for a Responsible Federal Budget, which is virtually guaranteed prominent placement in stories on the budget by major news outlets.

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