Reported 3 days ago
Peter Orszag, former budget director under President Obama, has raised alarms about the U.S.'s fiscal health, noting that budget deficits have surged to 6% of GDP and interest rates have more than doubled since a decade ago. He emphasizes the importance of addressing these risks, mentioning strongly rising federal debt and the potential for serious financial repercussions if the U.S. loses confidence from foreign debt holders. Orszag suggests eliminating the debt limit and securing long-term borrowing to stabilize the economy.
Source: YAHOO