U.S. debt reaches level at which economic growth begins to slow - The Hill's On The Money

Another depressing blog post from me - Sorry!

Here's an excerpt, with the entire piece linked below:

When gross debt hits 90 percent of GDP, Reinhart told the commission during a hearing in the Capitol, growth "deteriorates markedly." Median growth rates fall by 1 percent, and average growth rates fall "considerably more," she said.

Reinhart said the commission shouldn't wait to put in place a plan to rein in deficits.

"I have no positive news to give," she said. "Fiscal austerity is something nobody wants, but it is a fact.


U.S. debt reaches level at which economic growth begins to slow - The Hill's On The Money