cover of episode Who’s Afraid of the National Debt?

Who’s Afraid of the National Debt?

2024/10/3
logo of podcast Why It Matters

Why It Matters

People
M
Maya MacGuineas
R
Roger W. Ferguson Jr.
主持人
专注于电动车和能源领域的播客主持人和内容创作者。
Topics
Maya MacGuineas认为美国国家债务已达到危险水平,即将超过二战后的最高纪录。这并非因为战争,而是由于长期以来政府过度支出、减税以及缺乏成本补偿措施造成的。她认为,政府债务既有"好债务"(例如,用于应对经济衰退或疫情的刺激支出),也有"坏债务"(例如,出于政治原因的过度支出)。"坏债务"不仅损害了美国的经济实力和国家安全,还对后代造成沉重的负担。她强调,解决债务问题不能仅仅依靠削减开支,还必须考虑增税,并对社会保障和医疗保险等项目进行改革,以实现财政的可持续性。她认为,美国政府应该增加对公共投资的支出,例如教育、基础设施和科研等,以促进长期发展。 Roger W. Ferguson Jr. 则认为,美国债务的增加一部分是由于应对金融危机、疫情和经济衰退等危机事件造成的,并非完全是由于财政上的挥霍无度。他指出,美国每年用于支付利息的支出已超过1万亿美元,人均超过5000美元,且增长速度超过其他任何预算项目,这预示着潜在的财政危机。他认为,巨额债务的利息支出已经挤压了其他预算项目,例如医疗、国防、气候和基础设施建设。他同时指出,美国仍然是全球最强经济体和储备货币发行国,这使得美国仍然能够借贷,但这是一种双刃剑。他认为,解决债务问题需要同时考虑支出和税收两方面,并对政府支出进行结构性调整,增加公共投资,减少不必要的消费性支出。他还指出,两党都对债务问题负有责任,需要共同承担责任,并呼吁采取逐步推进的方式,从一些较小的方面入手,逐步解决问题。 虽然美国债务规模巨大,但其作为全球最强经济体和储备货币发行国的优势,使其仍然能够借贷,但这是一种双刃剑。印钞票解决债务问题会导致高通货膨胀,甚至恶性通货膨胀。解决债务问题需要同时考虑收入和支出两方面,不能仅仅依靠削减开支或增税单一手段。需要对社会保障、医疗保险、税收和国防开支等所有方面进行综合考量。

Deep Dive

Chapters
The US national debt is nearing World War II levels and growing rapidly. Experts debate its severity, with some viewing it as a national security threat and others emphasizing the still-healthy economy. The debt's size is explained, exceeding $28 trillion, approaching the size of the US economy and increasing by over $100 million during the episode.
  • US national debt nearing WWII levels
  • Debt held by public ~$28 trillion, ~$35 trillion including intragovernmental debt
  • Interest payments exceed annual defense spending
  • Debt is roughly the size of the US economy

Shownotes Transcript

The United States national debt is rising to levels not seen since World War II. Many economists say Washington is on an unsustainable track, but no one knows when it will pass the point of crisis. What is at risk if U.S. debt continues to grow?

 

Featured Guests:

Maya MacGuineas) (President of the Committee for a Responsible Federal Budget)

Roger W. Ferguson Jr.) (Steven A. Tananbaum Distinguished Fellow for International Economics, CFR)

 

For an episode transcript and show notes, visit us at: https://www.cfr.org/podcasts/wim/whos-afraid-national-debt