Economist: National Debt Unsustainable as Fed Raises Rates

Don Ma
By Don Ma
July 13, 2022NTD Business
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The new inflation report is out: consumer prices rose 9.1 percent in the past year, setting yet another 40-year high. The hot inflation data is fueling fears that the Federal Reserve could be more aggressive in hiking rates. But with higher rates and our national debt at a record $30 trillion, the federal government would have to pay much more in interest. NTD talked to Vance Ginn about how we got here and what can be done. Ginn was the chief budget office economist in the Trump administration and is now the chief economist at the Texas Public Policy Foundation.

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