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Lots of sound and fury on US debt, but not a crisis — yet


Associated Press

WASHINGTON (AP) — For all the sound and fury about raising the nation’s debt limit, most economists say federal borrowing is not at a crisis point. At least, not yet. The national debt is nonetheless at the core of a dispute about how to raise the government’s legal borrowing authority. That issue could come to a head this summer if the government runs out of accounting maneuvers to keep paying its bills. The political jousting masks a tough reality: Today’s $31.4 trillion national debt does not appear to be a weight on the U.S. economy, but its path in the decades to come might put at risk national security and major programs such as Social Security and Medicare.

Article Topic Follows: AP National Business

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Associated Press


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