# Professor Lawrence White discusses the impact of the US national debt on the economy

1 Faculty News June 9, 2018 ![Yahoo Finance logo](/sites/default/files/styles/246w/public/assets/images/yahoofinance.jpg?itok=iQnyXkp_)>

Excerpt from [Yahoo Finance](https://finance.yahoo.com/news/what-is-the-national-debt-222443396.html) -- "'During recessionary periods, \[the government\] is seeing a shortfall of revenues, and unemployment is high,' said [White](http://www.stern.nyu.edu/faculty/bio/lawrence-white). 'There needs to be larger aggregate spending, and that spending happens through borrowing.'"

[Read more](https://finance.yahoo.com/news/what-is-the-national-debt-222443396.html)