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US Debt: Economic Growth Alone Can’t Fix the Fiscal Imbalance
Last week’s US gross domestic product report made a couple of things that were already pretty clear even clearer. One is that federal debt held by the public is, at 100.6% of GDP for the recently ended 2026 fiscal year, bigger than economic output for the first time since 1946. The other is that although economic growth picked up in the third quarter, we’re still a long way from the sustained…
