SEOUL NATIONAL UNIVERSITY · CENTER FOR LAW & ECONOMICS
Center for Law & Economics, Seoul National UniversityCENTER FOR LAW & ECONOMICS
ECONOMICS · RESEARCH RECORD
AmericasMacroeconomics

Fiscal unsustainability and capture: $40 trillion Treasury debt does not measure the risks; enhanced long-term repurchases don't improve them

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US federal government debt exceeded $40 trillion in August 2026, triggering concerns about fiscal credibility and sustainability. This column argues that fiscal sustainability should

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