02/24/2011 08:01 am ET Updated May 25, 2011

Simon Johnson: Does The U.S. Really Have A Fiscal Crisis?

The United States faces some serious medium-term fiscal issues, but by any standard measure it does not face an immediate fiscal crisis. Overly indebted countries typically have a hard time financing themselves when the world becomes riskier -- yet turmoil in the Middle East is pushing down the interest rates on United States government debt. We are still seen as a safe haven.

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