Journal Article

Is U.S. federal debt too large?

Abstract: U.S. federal debt has grown to levels that have not been seen since the aftermath of the Second World War. Many economists argue there is plenty to be worried about when it comes to what this implies for the U.S. economy. This Economic Commentary explains that recent increases in debt are typical of the growth seen historically in times of crisis, but entitlement growth is a different story. Unchecked, it will impair our ability to respond to crises and economic downturns in the future.

Keywords: Public; Debts; economic conditions - United States;

Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2010

Issue: Aug

Order Number: 10