Global Sovereign Debt: Are We Heading Towards a Debt Crisis? - Deccan Chronicle

Global Sovereign Debt: Are We Heading Towards a Debt Crisis? - Deccan Chronicle

Source: Deccan Chronicle

DW NOTE

The headline asks whether we're heading toward a debt crisis. The US federal deficit is $2 trillion this year — double the sustainable target — and Congress just raised the debt ceiling by $5 trillion in a single bill. The question isn't whether we're heading toward one. It's whether anyone still remembers what fiscal discipline looked like before it became optional.

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