Wang Wen: The US can’t let debt cast shadow on its economy

In the long run, debt expansion propels favorable policies that stimulate the economy. The fiscal deficit is a persistent problem with a protracted history. Since former president Ronald Regan, US presidents have all adopted expansive fiscal policy. The US government has to borrow new debt to pay back the old, creating rollover risks. The country's low savings and high consumption model has also driven the US to keep large amounts of debt.......

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