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Can America pay its public debt

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  • Rabie, Mohamed

Abstract

The papers argues that the United States is unable to service its public debt without going deeper in debt, let alone repay it. the debt which has already exceede $15.3 trillion is expected to reach $20 trillion in 2015 and between $28 to $30 trillion in 2022.

Suggested Citation

  • Rabie, Mohamed, 2011. "Can America pay its public debt," MPRA Paper 39516, University Library of Munich, Germany, revised 17 Jun 2012.
  • Handle: RePEc:pra:mprapa:39516
    as

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    File URL: https://mpra.ub.uni-muenchen.de/39516/1/MPRA_paper_39516.pdf
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    References listed on IDEAS

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    5. S. Rao Aiyagari, 1994. "Uninsured Idiosyncratic Risk and Aggregate Saving," The Quarterly Journal of Economics, Oxford University Press, vol. 109(3), pages 659-684.
    6. Mariacristina De Nardi, 2004. "Wealth Inequality and Intergenerational Links," Review of Economic Studies, Oxford University Press, vol. 71(3), pages 743-768.
    7. James B. Davies & Peter J. Kuhn, 1991. "A Dynamic Model of Redistribution, Inheritance, and Inequality," Canadian Journal of Economics, Canadian Economics Association, vol. 24(2), pages 324-344, May.
    8. Ana Castaneda & Javier Diaz-Gimenez & Jose-Victor Rios-Rull, 2003. "Accounting for the U.S. Earnings and Wealth Inequality," Journal of Political Economy, University of Chicago Press, vol. 111(4), pages 818-857, August.
    9. Bossmann, Martin & Kleiber, Christian & Walde, Klaus, 2007. "Bequests, taxation and the distribution of wealth in a general equilibrium model," Journal of Public Economics, Elsevier, vol. 91(7-8), pages 1247-1271, August.
    10. Solon, Gary, 1992. "Intergenerational Income Mobility in the United States," American Economic Review, American Economic Association, vol. 82(3), pages 393-408, June.
    11. Chatterjee, Satyajit, 1994. "Transitional dynamics and the distribution of wealth in a neoclassical growth model," Journal of Public Economics, Elsevier, vol. 54(1), pages 97-119, May.
    12. Zimmerman, David J, 1992. "Regression toward Mediocrity in Economic Stature," American Economic Review, American Economic Association, vol. 82(3), pages 409-429, June.
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    More about this item

    Keywords

    debt crisis; American public debt;

    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt

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