Debt crisis is coming soon [WSJ]

www.wsj.com/articles/the-debt-crisis-is-coming-soon-11553122139

Martin Feldstein, an economic advisor to President Reagan and a professor at Harvard, warned the risky level of US national debt.

The US government deficits will surpass $1 trillion, from $900 million (more than 4% of GDP) in 2022. The amount of government debt will hit 100% of GDP by 2028. Defense other discretionary spendings might stay steady and tax increases seem improbable. Medicare, Medicaid, and Social Security may not be easily curtailed. He calls for prompt count measures to take care of this problem.