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In the United States, we naturally celebrate the Labor Day holiday with a holiday from work.
For the US and Global Economy, What Pathways to Reduce Government Debt?
It’s well-known (although it’s not clear anyone wants to do anything about it) that US budget deficits and government debt took a big jump during the Great Recession from 2007-9, then another big jump during the pandemic recession, and are projected to rise steadily in the middle-term as an aging US population leads to higher government spending on Medicare, Medicaid, and Social Security. But it’s not just the United States. Especially after the pandemic, government debts around the world are high. The question is, based on past experience, what steps have some plausibility for reducing these debts.
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