👉 The Deficit Project is an initiative led by economist Paul Krugman and others that highlights the persistent budget deficits faced by the United States, arguing that these deficits are not just temporary but part of a structural issue. It posits that the government's spending far exceeds its revenue, leading to increasing national debt, which can stifle economic growth and limit future fiscal flexibility. The project emphasizes that while deficits can be cyclical, the ongoing nature of these deficits suggests deeper structural problems, such as inefficient spending, inadequate tax policies, and the need for broader economic reforms to achieve long-term fiscal stability.
