Debate: “US Debt Levels are Too High”
Featuring Matt Orton, Head of Advisory Solutions and Market Strategy at Raymond James Investment Management.
Congress passed the increase of our debt ceiling in the nick of time, averting the potential for the first US default on its debt – which we believe would have been devastating for both the US and global economy. However, the question remains – is our debt too high?
To answer this question, Matt and I have a wide-ranging conversation inclusive of comparing government debt to that of corporations and individuals and checking in with other developed market countries with a focus on Japan whose debt levels are close to twice ours. We also cover what affects a high debt level may have on the economy longer term, and ways that the debt level may come down in the future.
This conversation is intertwined with past conversations we have had on demographics and the future of jobs as one touches on the realities that we may need to support more of the population in retirement age relative to today while AI, robotics and other technological innovations may assist in bringing down future costs – and debt.
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