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Different theoretical views on national debt, Long-run costs of high national debt, Costs of eliminating the budget deficit solely through (1) personal tax increases, and/or
Different theoretical views on national debt,
Long-run costs of high national debt,
Costs of eliminating the budget deficit solely through (1) personal tax increases, and/or (2) through spending cut by decreasing in transfer payments (i.e., Social Security, Medicare and Medicaid) and in discretionary spending (such as defense and education budgets).
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