Professor Joao Gomes Source: https://executiveeducation.wharton.upenn.edu/faculty/joao-gomes/ |
The "blockbuster report" is by the CBO and is here: https://www.cbo.gov/publication/60127
Who said there will be "severe, irreversible scars" (in quotes)? That is Wharton Professor Joao Gomes.
Without a course correction a fiscal crisis is likely to occur in 2030, said Gomes, or as early as 2025 if the next administration rolls out an "expensive fiscal package that relies on implausibly rosy economic assumptions." Regardless, warns Gomes: "It's consequences will be severe and leave lasting—probably irreversible—scars on our economy and society."
See also: What is the current national debt, how can the U.S. get out of debt? | Fortune
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