Remember, the U.S. doesn’t have to pay off all its debt, and there’s an easy way to stabilize it, Nobel laureate Paul Krugman says

Ballooning U.S. debt has stirred growing alarm on Wall Street, but economist Paul Krugman isn't worried and said you shouldn't be either.on Thursday, the Nobel laureate wrote that while $34 trillion is a record, debt as a share of GDP roughly matches levels seen at the end of World War II and is well below Japan's current debt burden as well as the U.K.'s postwar level, neither of which triggered a debt crisis.

Of course, the U.S. must still keep up with interest payments and maturing Treasury bonds, and the cost of servicing all that debt expense is expected to exceed defense spending this year.But in Krugman's view, the key is stabilizing debt as a share of GDP rather than paying it all down, and he highlighted a recent study from the left-leaningThe tax revenue that the U.S.

acknowledged in May that the outlook for higher rates over the long term will make it harder to keep deficits and debt expenses under control.Ukraine war video appears to show US-supplied Bradley fighting vehicle and Russian APC in a head-on firefight

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