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CED’s Policy Backgrounders provide timely insights on prominent business and economic policy issues facing the nation.
The US Federal budget deficit is anticipated to widen somewhat less aggressively in fiscal years 2022 and 2023 as automatic stabilizers and fiscal stimulus linked to the COVID-19 pandemic fade. However, public debt service is expected to increase, potentially exponentially over the two-year period as the Federal Reserve tightens policy to combat rapidly rising inflation.
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