How Worried Should You be About the Federal Deficit and Debt?

Student’s Name
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Response to Wessel and Gale’s Chapters 1, 3, and 6
Question 1: Succinctly describe the main argument or point of each piece read
David Wessel: How worried should you be about the federal deficit and debt?
Wessel's main argument is that the federal debt is becoming large and the federal debt unsustainable, and the two are projected to even rise in the coming years (Wessel, p.1). Specifically, the projected federal deficit for the fiscal year 2020 is by far the largest since World War II, and the projected federal debt is heading to almost what was experienced during World War II. However, Wessel (p. 7; 8) notes that the current debt level is not a problem, and the government can carry a heavier debt load since interest rates are expected to remain low. He also notes that the high federal debt will have an impact on interest payments, especially if the interest rates go up (p.11; 12).
William Gale: Fiscal therapy: Balancing today's needs with tomorrow's obligations
In chapters 1, 3, and 6, Gale presents his main argument about the government and the current and projected federal debt. He argues that the government has a great responsibility ahead, especially in addressing the federal debt that is projected to continue rising in the coming years. Specifically, in chapter 1, he argues that the government will have to address the fiscal problem by relying on the country's fiscal history. Chapter 3 argues that federal debt will rise and government revenue will not match overall spending. In chapter3, he argues that strong leadership is essential in creating a solution to address federal deficits and debt when most Americans are opposed to tax increases or cuts on government spending.
Question 2: Provide an assessment of the reading
Davi...