Paul Krugman

@paulkrugman ↗

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Last Checked Sept. 2, 2021

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Thu May 21 11:32:02 +0000 2020

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Paul Krugman @paulkrugman

CBO currently projects debt by the end of next year of 108 percent of GDP. How hard would that be to deal with? Bear in mind that interest rates have consistently been below the economy's growth rate, so that with primary (non-interest) balance, the debt ratio would fall 4/ — PolitiTweet.org

Posted May 21, 2020 Hibernated

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Paul Krugman @paulkrugman

Britain emerged from World War II with debt of more than 250 percent of GDP. It didn't have a debt crisis. And it never paid off that debt, just rolled it over. However, debt as a share of GDP eroded as the economy grew. 3/ — PolitiTweet.org

Posted May 21, 2020 Hibernated

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Paul Krugman @paulkrugman

Two scenarios: primary balance, and a primary deficit of 2% of GDP, which is roughly where we were before the 2017 tax cut. In both cases I assume interest rate 1% below growth rate. Deficit scenario would lead to gradually rising debt ratio 5/ https://t.co/bhRJ0cwK1s — PolitiTweet.org

Posted May 21, 2020 Hibernated