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... Jerome Powell has recently called the current level of national debt unsustainable, spurring discussions among economists and policymakers about possible solutions: Increasing Taxes Raising taxes on corporations and high-income individuals could boost revenue and partially offset the deficit. However, higher taxes may reduce business activity and economic growth. Still, increased revenue could help stabilize the debt in the short term. Reducing Government Spending Reductions in government spending, particularly in social programs and infrastructure, could ...

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