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What Does History Reveal about Reducing the National Debt Burden?

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A look at the U.S. national debt since World War II reveals that economic growth and fiscal austerity (i.e., spending cuts and raising taxes) are two of the ways to reduce the debt burden.

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  • YiLi Chien & Ashley Stewart, 2023. "What Does History Reveal about Reducing the National Debt Burden?," On the Economy 95958, Federal Reserve Bank of St. Louis.
    • Handle: RePEc:fip:l00001:95958
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    File URL: https://www.stlouisfed.org/on-the-economy/2023/apr/what-does-history-reveal-reducing-national-debt-burden
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    Keywords

    national debt; fiscal austerity;

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