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Why America's Debt Burden Is Declining

Focusing on budget deficits is misguided. The debt ratio, a superior measure of government's debt burden, is as dependent one conomic growth as federal borrowing. A growing economy can absorbmodestly increasing debt levels, and streamlining wasteful spendingwhile pursuing a pro-growth tax policy can simultaneously reducedebt levels and make debt more affordable.
United States Robert Barro Heritage Foundation American Enterprise Institute Eric Engen Thomasa Roe Institute For Economic Policy Council Of Economic Advisers Glenn Hubbard

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