causes of us national debt


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PDF High and Rising US Federal Debt: Causes and Implications

8 nov 2023 · Population aging and rising health care spending are the primary factors underlying the sharp upward trajectory of debt Behind the projected 

  • What is the debt of the United States economy?

    The $34 trillion gross federal debt includes debt held by the public as well as debt held by federal trust funds and other government accounts.

  • What increases every time there is a federal government deficit?

    As the federal government experiences reoccurring deficits, which are common, the national debt grows.
    To learn more about the national debt, visit the National Debt Explainer.

  • At the top is Japan, whose national debt has remained above 100% of its GDP for two decades, reaching 255% in 2023.

  • How can the US reduce its debt?

    Remove some itemized deductions.
    Reform Medicare and Social Security so that they don't disincentivize employment.
    Shave a bit off discretionary spending on programs such as for transportation and housing.
    The PWBM brief outlined how the debt-GDP ratio would decline and the economy grow under each of its options.

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