08/01/2011 09:22 am ET | Updated Oct 01, 2011

Simon Johnson: Low Bank Capital Is Next U.S. Fiscal Crisis

The summer debate that has dominated Washington seems straightforward. Under what conditions should the U.S. government be allowed to borrow more money? The numbers that have been bandied about focus on reducing the cumulative deficit projection over the next 10 years, as measured by the Congressional Budget Office.

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