In a recent blog entitled, “Size Doesn’t Matter - Yet,” ITR Economics CEO Brian Beaulieu discussed the growing National Debt, and the fact that it “is about to go much higher.” According to Beaulieu …
- “It is safe to assume that the large step up that occurred as a result of the 2008-2009 Great Recession, is a conservative precursor to what we are about see as the fiscal stimulus packages keep rolling out.
- Keep in mind that the deficit reflects not only the government’s spending but also the decline in revenue caused by shutting down swathes of the economy. The numbers are about to get very ugly.
- We contend (as do other economists) that it is not the size of the deficit that matters. It is the presumption that the U.S. is willing and able to pay off that debt. There is no clear and present danger when interest rates are this low and the U.S. is still growing. Time is on our side.”
What else did Beaulieu have to say? Read “Size Doesn’t Matter - Yet” in its entirety at www.itreconomics.com.