Washington, D.C.- As talk of the debt ceiling and deficits reaches a fever pitch in the media and on Capitol Hill, a great deal of inaccurate information has clouded the reality of the national debt and deficits. A new issue brief from the Center for Economic and Policy Research describes 7 key facts about the debt, deficits and the dollar, and shows why a clear, unfiltered understanding of them is crucial to current policy debates.
“7 Things You Need to Know about the National Debt, Deficits, and the Dollar,” breaks down the basic economics of these issues in a manner unclouded by political agendas or partisan spin. It demonstrates the relationships between the national debt, budget and trade deficits, and the dollar and why these relationships matter.
There has been a great deal of hype and misinformation in discussions of the debt and deficit over the past few years. With the economy still reeling from the effects of the Great Recession, “7 Things You Need to Know about the National Debt, Deficits, and the Dollar” is a must-read primer on these issues and the relationships between them.
David Rosnick has written numerous policy papers including, ‘The Burden of Social Security Taxes and the Burden of Excessive Health Care Costs’ with Dean Baker, March 2005; ‘Poor Numbers: The Impact of Trade Liberalization on World Poverty,’ with Mark Weisbrot and Dean Baker, November 2004; ‘NAFTA at Ten: The Recount,’ with Mark Weisbrot and Dean Baker, March 2004. He is the architect of the Center for Economic and Policy Research’s online calculators, including the Housing Cost Calculator, which compares the cost of owning a home relative to renting. He received his Ph.D. in computer science from North Carolina State University and his MA in economics from George Washington University.