(The Hill) Even if the budget sequester is fully implemented, federal debt would
still reach 200 percent of GDP within about 28 years. On top of that, the debt
will continue to grow between now and 2022, and will accelerate significantly
after that.
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Debt is now projected to grow from 72 percent of GDP in 2012 to
87 percent in 2022, down only slightly from the 90 percent that was estimated
before passage of the most recent deal.
Many economists suggest keeping debt at or below 60 percent of GDP, with
research showing that economic growth slows for countries that have debt levels
exceeding 90 percent of economic growth.
"Americans shouldn’t be under any false impression that our debt problems are
behind us," Peterson said.
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