Wall Street Journal (August 23)
2021/ 08/ 23 by jd in Global News
The Government of Japan “is already on the hook to pay out nearly $10 trillion to its creditors.” This may appear *an impossibly large sum to rustle up” when annual tax collections amount to “less than $600 billion.” But today’s “economists talk more about the risk of issuing too little debt” and the U.S. may soon follow Japan’s lead. “Congress is debating trillions of dollars more in proposed spending that would push America’s borrowing toward levels policy makers in Tokyo have long embraced.”
Tags: $10 trillion, Borrowing, Congress, Creditors, Debt, Economists, Government, Japan, Risk, Spending, Tax collections, U.S.
