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America's Deficit Reckoning: How the U.S. debt spiral could spark a crisis
Independent analyses – ranging from Yale University to the Wharton School to the Congressional Budget Office – have each said that President Donald Trump’s budget plan will add trillions of dollars to the U.S. deficit over the next 10 years. What’s at stake if the deficit continues on its upward trajectory? This year, the U.S. deficit is exceeding 6% of GDP, a level roughly 63% higher than the average in the past five decades. And unlike past spikes, the current one isn’t driven by war or economic crisis, leading many to raise concerns about why America might be playing with fire when it comes to its fiscal ...
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