Why Economists Don’t Care About the Debt

Apr.28 — There’s been a sharp turn in thinking about how much the size of the national debt actually matters, and economists are abandoning the debt-to-GDP ratio as the key measure of fiscal sustainability and the long-term burden of debt on society. Instead they’ve turned to another metric — the size of interest payments on federal debt relative to GDP — to make the case for much higher levels of deficit spending.

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