Trump tax plan will make U.S. only advanced economy to see its public debt ratio increase, IMF warns

The United States is the only country with an advanced economy that will see its public debt ratio increase over the next three to five years, according to a new report issued by the International Monetary Fund (IMF). As the ratio rises, so will tax rates and America's inability to stabilize the economy during recessionary periods, experts say. Because of the increased government spending and borrowing required by President Donald Trump’s tax cuts and two-year budget deal, the U.S. will take on deficits above $1 trillion over the next three years...

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