Shapiro advises on White House approach to federal debt and budget development
The Trump administration has also promised big economic growth. Backing off this plan to eliminate the debt could help with that. Rob Shapiro, of Georgetown University and the economic advisory firm Sonecon, said getting rid of the debt would require drastic spending cuts that would slow the economy. “When we spend money on defense, when we spend money on social security, on education — that money goes to companies or individuals who then spend it,” Shapiro said.