41. Can the U.S. Government Live Within Its Means? Lessons from Abroad
- Author:
- Allen Schick
- Publication Date:
- 06-2005
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- When George W. Bush leaves office in 2009, the federal government will owe at least $15,000 more for every American than it did when he became president eight years earlier. This unprecedented build-up of public debt will result from budget deficits projected to average more than $250 billion a year during the Bush presidency, plus more than one trillion dollars borrowed from social security trust funds. Although this budget projection may be high, there is far greater risk that actual deficits will exceed current estimates than that they will be lower.
- Topic:
- International Relations, Economics, and Government
- Political Geography:
- United States