President Biden A new analysis reveals that long-term economic growth in the United States is significantly dampened by federal deficit spending.
Economists from Penn Wharton Budget Model — a project of the University of Pennsylvania’s Wharton School that evaluates public policy proposals — released an interactive tool that permits users to observe the effects of deficit spending on the American economy.
Under deficit-financed spending proposals of $100 billion, $1 trillion, and $10 trillion, the American economy contracts in the long-term — a reality explained by the “crowding out effect.”As Penn Wharton Budget Model says of debt that funds public spending: The […]
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