The US is approaching the end of the long-term debt cycle. There are 3 levers we can pull to bring the deficit down to ~3% of GDP and mitigate our debt burdens: 1) reducing spending, 2) increasing taxes, and 3) lowering interest rates. While we need to consider each of these levers, I recently discussed why reducing interest rates will ultimately have the greatest impact on the budget deficit with the_imf. You can learn more about my proposed 3% 3-part solution to the US debt crisis in my new book, How Countries Go Broke: The Big Cycle, available now wherever books are sold. #principles #howcountriesgobroke #economics