Kenneth Rogoff: evaluation

Transcript context

…Just predictively, what do you think the United States will do with its fiscal position? That is a darn good question. Looking way forward, I would just say we’re on an unsustainable path. We will continue to have our debt balloon. Eventually — not necessarily in a planned or coherent way — I think we’re going to have another big inflation soon, next five to seven years, maybe sooner with what’s going on, and that’s going to bring it down just like it did under Biden. It brought the debt down. Then the markets are, fool me once, shame on you. Fool me twice, no, we’re raising the interest rate, and then we’ll have to make choices. I think in the United States, a lot of the choices, I’m sorry to say, probably point towards higher taxation because we’re hardly running a welfare state. All due respects — and I’m not sure I have any due respects to DOGE — there’re not that many things to cut in the United States compared to many other countries. I don’t know what the choice will be. I probably won’t be here, and you might not be either, when we’re making the choices, but if actually we’ll — Oh, I think we’ll both be here.…

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