The Global Outlook for Government Debt over the Next 25 Years: Implications for the Economy and Public Policy: Policy Analyses in International Economics 94

This study addresses a fundamentally new feature of the contemporary world economy: the simultaneous buildup of very large public deficits and debt positions in virtually all of the advanced high-income countries. The recent global financial crisis sharply accelerated this fiscal deterioration, but it was already well underway in some countries, including the United States, where demographic prospects had posed extremely worrisome trajectories for a number of years.

The book has three basic ...