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Economists Don’t See U.S. Debt as a Crisis

U.S. growth is picking up despite the federal deficit.

By David J. Lynch, Bloomberg | Updated on March 22, 2013

Representative Paul Ryan, chairman of the House Budget Committee, declared this month that the U.S. national debt “is hurting our economy today.” It’s an idea embraced by almost every Republican and even some Democrats.

Economic data — on jobs, housing and investment — don’t support that claim. And economists across the political spectrum dispute the best-known study of the subject, by Carmen Reinhart and Kenneth Rogoff, which found that nations with debt loads greater than 90 percent of their economies grow more slowly.

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