The national debt is projected to exceed 100% of GDP in 2023 — a milestone not seen since World War II. While in both cases, debt-financed spending soared to combat a growing crisis, fellow Jorge Barro explains why the surge in federal debt today will be very different from the last.
https://doi.org/10.25613/qe57-f687
Nov. 30, 2020, 3:56 p.m.
John W. Diamond, Ph.D., is the Edward A. and Hermena Hancock Kelly Fellow in Public Finance and director of the Center for Public Finance at the Baker Institute, an adjunct professor of economics at Rice University and CEO of Tax …
George R. Zodrow is the Allyn R. and Gladys M. Cline Chair of Economics at Rice University. He is also a Rice faculty scholar at the Baker Institute and an international research fellow at the Centre for Business Taxation at Oxford University. Zodrow …
