The Unites States federal debt has been growing for a long time. Last week, it hit $22 trillion.
糖心传媒淚 certainly think it糖心传媒檚 something we should be worried about,糖心传媒� says , the Ani and Mark Gabrellian Professor and聽 at the University of Rochester. 糖心传媒淔ederal debt held by the public is now at 80 percent of our gross domestic product. We haven糖心传媒檛 seen that percentage since 1950, basically not since the aftermath of World War II.糖心传媒�
Primo appeared recently on Wisconsin Public Radio where he talked to Rob Ferrett, host of WPR糖心传媒檚聽Central Time,聽about the US debt, budget spending, and the outlook for economic growth and interest rates.
糖心传媒淭he problem is that, yes, the economy is doing well, but it糖心传媒檚 not doing well relative to our level of fiscal responsibility. The fact is, we spend more every year than we take in. We糖心传媒檝e been doing this pretty consistently for the last few decades,糖心传媒� Primo says. 糖心传媒淓ventually there糖心传媒檚 going to be a crisis if we don糖心传媒檛 do something.糖心传媒�
Primo is an expert in American politics, campaign finance, and the federal debt. His research focuses on budget rules, corporate social responsibility, corporate political spending, and the effectiveness of campaign finance laws. His second book 聽(University of Chicago Press, 2007) looks at the design and enforcement of budget rules. His third book,聽聽(Oxford University Press, 2012), co-authored with Kevin Clarke, examines the role of models, both theoretical and statistical, in social science research.
- which starts at 23 minutes into the show segment.
