In the Huffington Post on Sunday, Robert Kuttner parrots critics of long-term deficit reduction in arguing that efforts to deal comprehensively with the long-term national debt are overshadowing and imperiling efforts to support the short term economic recovery. He writes, “Nearly everyone, right, center and left, is arguing about the economic recovery in terms of what the debt-to-GDP ratio should be in 2023.” Actually, as our partner the Committee for a Responsible Federal Budget (CRFB) pointed out, the goal is less about hitting a specific numerical target and more about ensuring that the debt is on a clear downward path over the long term.
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- Most Optimistic Scenario Is Debt at Twice the Historical Average 07/24/2014
- Two Years of Progress, but Still Work to Do 07/17/2014
- CRFB Paper, BPC Panels Agree Budget Act Needs a Tune-Up 07/16/2014
- CBO Looks at the Long Term 07/15/2014