US Has Overspent Because of Its Fractured Politics,
Rajan Says
https://www.bloomberg.com/news/articles/2023-01-18/us-has-overspent-because-of-its-fractured-politics-rajan-says
Public borrowings in the US and elsewhere have swelled because of overspending partly fueled by fractured politics, said former International Monetary Fund Chief Economist Raghuram Rajan.
“The size of the debt has gone up tremendously,” he told a panel at the World Economic Forum in Davos. “Part of the problem that’s going on is clearly there is a fractured political consensus in many industrial countries — I mean, that is part of the reason the US overspent. Every constituency got a share of the spending, simply because they couldn’t make choices.”
https://www.bloomberg.com/news/articles/2023-01-18/us-has-overspent-because-of-its-fractured-politics-rajan-says
Public borrowings in the US and elsewhere have swelled because of overspending partly fueled by fractured politics, said former International Monetary Fund Chief Economist Raghuram Rajan.
“The size of the debt has gone up tremendously,” he told a panel at the World Economic Forum in Davos. “Part of the problem that’s going on is clearly there is a fractured political consensus in many industrial countries — I mean, that is part of the reason the US overspent. Every constituency got a share of the spending, simply because they couldn’t make choices.”
The Government Debt Threat Keeps Mounting
https://www.wsj.com/articles/the-debt-threat-keeps-mounting-gdp-congress-entitlements-balanced-budget-biden-social-security-11673988017
https://www.wsj.com/articles/the-debt-threat-keeps-mounting-gdp-congress-entitlements-balanced-budget-biden-social-security-11673988017