A CROSS-COUNTRY HISTORICAL ANALYSIS OF SOVEREIGN DEBT AND HOW IT CAN BE APPLIED TO UNITED STATES SOVEREIGN DEBT

Abstract

This paper will discuss the topic of sovereign debt in the United States as well as analyze different countries’ historical strategies to lower their own sovereign debts. These strategies have prevented other countries from losing international reputation, which causes them to no longer be able to borrow from foreign lenders. This topic of the United States’ sovereign debt problem is widely discussed as it as viewed as not urgent in today’s day in age, but unsolved it could lead to serious repercussions for the United States. Upon analysis of other countries’ historical strategies this paper will outline specific cuts in spending as well as increases in specific revenue areas that will ensure a reduction in the United States sovereign debt.