1/4
"The United States, however, now borrows heavily during periods of economic growth to meet basic and ongoing obligations. Itβs increasingly unsustainable."
nytimes.com
"The United States, however, now borrows heavily during periods of economic growth to meet basic and ongoing obligations. Itβs increasingly unsustainable."
nytimes.com
2/4
The surge in debt isn't based on irresponsible behavior. It never is. Whether in the US, China, or anywhere else, a long unsustainable increase in debt is always structural.
The surge in debt isn't based on irresponsible behavior. It never is. Whether in the US, China, or anywhere else, a long unsustainable increase in debt is always structural.
3/4
In the case of the US, high levels of income inequality and high deficits combine to reduce demand for domestic production, in which case Washington must choose between either accepting higher unemployment or encouraging more household and/or fiscal debt.
In the case of the US, high levels of income inequality and high deficits combine to reduce demand for domestic production, in which case Washington must choose between either accepting higher unemployment or encouraging more household and/or fiscal debt.
4/4
Until income inequality is reversed, along with the US role in absorbing foreign savings, there is no point discussing how to get debt under control. Rising debt is needed to prevent a rise in unemployment.
Until income inequality is reversed, along with the US role in absorbing foreign savings, there is no point discussing how to get debt under control. Rising debt is needed to prevent a rise in unemployment.
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