Can the US Rein in Chronic Federal Deficit Spending?
The United States’ total debt has ballooned to over $34 trillion. Economists Kenneth Rogoff and Carmen Reinhardt consider this level of debt relative to gross domestic product a sign of major economic trouble (see figure 1). But Washington shows little appetite for addressing the problem as policymakers approve budgets with annual deficits of 25 percent or more. Defense spending and other needed investments are severely constrained while interest on the debt now approaches $1 trillion per year. Inflation is supercharged, and chronic overspending challenges productivity and America’s sovereign credit ratings.
Join Hudson Senior Fellow Thomas Duesterberg for a discussion with Dr. Douglas Holtz-Eakin and Dr. William Beach to explore ways to halt the destructive budget cycle.
Figure 1
Join Hudson as an expert panel discusses the current state of Taiwan’s energy transition and how the island’s energy mix might change in the next several years.
Join Hudson for a conversation with the new generation of North Korean refugees on the future of American and South Korean policy to address the North Korean human rights challenge.
Join Hudson Institute as expert panels take stock of the Falun Gong crackdown over the past quarter of a century.
