Why the National Deficit Matters to Businesses and Beyond
Jul 05, 2018 12:08PM
● By
Kathleen Maris
On the surface, the current U.S. economy looks rosy. However, recent Congressional Budget Office (CBO) predictions that the federal deficit will reach $1 trillion by 2020 have alarmed many economists, business leaders, and ordinary citizens…and rightly so. As Thomas Kaplan of the New York Times wrote in April 2018, “The fear among some economists is that rising deficits will drive up interest rates, raise borrowing costs for the private sector, tank stock prices, and slow the economy, which would only drive the deficit higher.” From there, the likeliness rises that the U.S. will face a fiscal crisis such as the Great Recession…or worse. If so, everyone—businesses, families, and individuals—will suffer!
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