Public Debt

Study: High Government Debt Leads To 'Panic And Contradictory Policies'

The Huffington Post | Bonnie Kavoussi | Posted 04.23.2012

Read More: Growth Government Debt, Government Debt Growth, Debt Economic Growth, Video, Growth Debt, Government Debt, Economic Growth Debt, Public Debt, Debt Growth, Growth, Economic Growth, Government Debt Economic Growth, Economic Growth Government Debt, Business News

It might not be government debt itself that's a danger to the U.S. economy. That's because government debt does not necessarily lead to lower econ...

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Mediocre Growth, High Risks, and the Long Road Ahead

Olivier Blanchard | Posted 04.17.2012

Read More: Income Inequality, Public Debt, Economic Crisis, Oil Prices, Fiscal Stimulus, Imf, Europe, Economic Growth, World Economic Outlook, Video, Business News
Olivier Blanchard

For the past six months, the world economy has been on what is best described as a roller coaster.

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Despite Public Fears, Federal Deficit Actually Shrank From This Time Last Year

AP | By DEREK KRAVITZ | Posted 01.12.2012

Read More: Treasury Department, Video, Government Revenue, Congress, Federal Deficit, Public Debt, 2012 Election, Election Day, Interest Payments, Unemployment Benefits, Social Security Tax Cut, Congressional Budget Office, Business News

WASHINGTON -- The federal deficit was lower in the first quarter of the 2012 budget year than the same period last year. Yet, the imbalance remains hi...

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Government Accounted For Nearly A Third Of All Layoffs In 2011: Report

The Huffington Post | Alexander Eichler | Posted 01.05.2012

Read More: Pentagon, Financial Industry, U.S. Economy, Financial Sector, Financial Industry Layoffs, Public Debt, Retail, Challenger Gray & Christmas, Consumer Spending, Local Government, Layoffs, State Government, Retail Industry, National Debt, Unemployment, Postal Service, Wall Street, Job Cuts, Government Layoffs, Federal Government, Military Spending, Government Jobs, Defense Spending, Video, Business News

For government workers and financial sector employees, last year was a particularly bad one -- and 2012 likely won't be much better. More jobs were...

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Moody's Downgrades Belgium's Credit Rating

Posted 12.16.2011

Read More: European Debt Crisis, Deficit, Credit Ratings, Video, Credit Rating Downgrade, Public Debt, Fitch, Belgium, Moody's, Business News

Moody's on Friday cut Belgium's credit ratings by two notches, saying "fragile sentiment" in the euro zone may cause funding stress for countries ...

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The Euro Crisis Is Serious but Not Lethal

Georges Ugeux | Posted 11.29.2011

Read More: Interest Rates, REpublic of Slovakia, Eurozone, European Stability Pact, Public Debt, International Monetary Fund, Fiscal Crisis, Ireland, European Union, Bundestag, Spain, Italy, Devaluation, Global Crisis, Fiscal Policy, Euro, Beijing, Deleverage, Greece, Germany, Ecd, Treasury, Banks, Europe, Portugal, Troika, World News
Georges Ugeux

The solution is in Europe, not in Washington or Beijing. Europe cannot continue to act irresponsibly and must assume its responsibilities to avoid a global crisis.

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Fiscal Glass Is Half Full: Some Reasons for Optimism

Carlo Cottarelli | Posted 11.21.2011

Read More: Fiscal Consolidation, Government Debt, Fiscal Monitor, Public Debt, Medium-Term Fiscal Consolidation, International Monetary Fund, Government Deficits, Imf, Economic Growth, Job-Creating Growth, Imfdirect, Fiscal Policy, Video, Business News
Carlo Cottarelli

In the midst of jittery financial markets, and global economic doom and gloom, it's easy to become pessimistic. Perhaps too much so; amid what seems like a steady drum beat of bad news, one can lose sight of what has been achieved over the last couple of years.

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Strong Policy Action -- The Essence of Restoring Global Economic Hope

Olivier Blanchard | Posted 11.21.2011

Read More: Fiscal Consolidation, Economic Rebalancing, Public Debt, Financial Volatility, Bank Balance Sheets, World Growth, International Monetary Fund, World Economic Outlook, Private Demand, Bank Capital, Imf, Public Deficits, External Rebalancing, Current Accout Surpluses, Sovereign Bonds, Olivier Blanchard, Weak Balance Sheets, Current Account Deficits, Low Growth, Bank Lending, Medium-Term Fiscal Consolidation, Economic Forecasts, Imfdirect, Downside Risks, Video, Business News
Olivier Blanchard

The global economy has entered a dangerous new phase. The recovery has weakened considerably, and downside risks have increased sharply. Strong policies are urgently needed to improve the outlook and reduce risks.

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A Five-Point Checklist To Prepare for Another Global Crisis

Marcelo Giugale | Posted 11.21.2011

Read More: Public Spending, National Debt, Poverty, Social Security, Developing Countries, Public Debt, Banks, Financial Crisis, Political Economy, Fiscal Policy, Public Investment, Business News
Marcelo Giugale

Imagine you are minister of finance in an average developing country. Suddenly you learn that a new global crisis may be looming in the horizon.

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'Credible Strategy' To Lower Debt Must Include More Revenue: IMF

Posted 11.20.2011

Read More: Interest Rates, Congress, Video, u.s. Creditors, Tax Policy, Social Security, Public Debt, International Monetary Fund, Revenue, President Barack Obama, Imf, Medicare, Business News

(Rachelle Younglai) - Any effort by the United States to pare its massive public debt without bringing in more revenue and tackling expensive bene...

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Friday Talking Points -- Obama's Fourteenth Option

Chris Weigant | Posted 09.07.2011

Read More: Social Security, 14th Amendment, White House, Debt, President Obama, Impeachment, Public Debt, Obama, Unitary Executive, Governor, Republican, Negotiations, Midotw, Most Disappointing Democrat of the Week, Mark Dayton, Most Impressive Democrat of the Week, Constitutional Crisis, Millionaires, Democrat, Congress, Minnesota, Democrats, Barack Obama, Silly Season, Debt Ceiling, Transparency, Sheldon Whitehouse, Constitution, Mddotw, Tax, Rumors, Republicans, Friday Talking Points, Senate, Politics News
Chris Weigant

The silly season has come early to Washington, it seems. The root cause is a simple fact of American politics these days -- sometimes, there just can't be transparency.

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U.S. Consumer Credit Rose By $5 Billion In May

Posted 09.07.2011

Read More: 2008 Financial Crisis, Unemployment, Borrowing Money, Public Debt, Great Recession, Consumer Credit, Loans, Federal Reserve, Ben Bernanke, Credit Cards, Private-Debt, Video, Business News

WASHINGTON (Glenn Somerville) - U.S. consumer credit rose by another $5.08 billion in May, according to a Federal Reserve report on Friday that su...

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Krugman: Failure To Raise Debt Ceiling 'Not At All' Unthinkable

New York Times | Paul Krugman | Posted 08.31.2011

Read More: Congress, Public Debt, John Boehner, President Obama, Jobs, U.S. Default, National Deficit, Economic Slowdown, Roosevelt Institute, Greece, Double-Dip Recession, Debt Limit, Gop, Economic Recovery, Paul Krugman, President George W. Bush, Republicans, Business News

In about a month, if nothing is done, the federal government will hit its legal debt limit. There will be dire consequences if this limit isn’t rais...

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Postcard From São Paulo: The Latest Global Fiscal News-and Some of It's Actually Good

Carlo Cottarelli | Posted 08.21.2011

Read More: Europe, Debt, United States, São Paulo, Public Debt, Brazil, Japan, Deficits, Business News
Carlo Cottarelli

While many countries are slogging through a tough fiscal time, there is some good news, including in the United States where the deficit will be lower this year than previously expected.

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Arthur Delaney

Why Don't Millionaires Who Want Higher Taxes Just Donate Money To The Government?

HuffingtonPost.com | Arthur Delaney | Posted 08.08.2011

Read More: Deficit, Patriotic Millionaires, Public Debt, Income Inequality, Tax Policy Center, Budget Deficit, Bake Sales, Bush Tax Cuts, Politics News

WASHINGTON -- The self-described Patriotic Millionaires who want the government to close its budget gaps with higher taxes on the rich think it's ridi...

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Simon Johnson: What Europe Needs

Bloomberg | Simon Johnson | Posted 08.06.2011

Read More: Debt, Eurozone, Greece, Public Debt, Jean-Claude Trichet, European Union, Europe, Simon Johnson, European Central Bank, Business News

Jean-Claude Trichet, president of the European Central Bank until October, last week floated two proposals aimed at dealing with Greece and related eu...

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Shifting Gears: Where the Rubber Meets the Fiscal Road

Carlo Cottarelli | Posted 06.13.2011

Read More: Interest Rate-Growth Differential, Fiscal Consolidation, Bank Recapitalization, Government Debt, Fiscal Monitor, Sovereign Risks, Public Debt, Medium-Term Fiscal Consolidation, Cyclically Adjusted Balance, Debt Sustainability, Fiscal Sustainability, Primary Budget Balance, Fiscal Adjustment, Business News
Carlo Cottarelli

Countries are starting the climb the fiscal adjustment mountain, cutting back government deficits and debt levels, but according to our analysis, current plans often aren't enough to get countries where they need and want to go.

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Should The World Be More Like Belgium?

Posted 05.30.2011

Read More: Public Debt, US Belgium, Brussels, Europe, Belgium, Ing Belgium, Dutch, University of Leuven, American Economy, Business News

BRUSSELS (Reuters) - This is a European country riven by ethnic tensions. Its public debt is almost as big as its total annual output and it's in ...

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Latin America: Making the Good Times Better

Dominique Strauss-Kahn | Posted 05.25.2011

Read More: Uruguay, Equality, Public Debt, Financial Risk, International Reserves, Prudential Tools, Monetary Policy, Overheating, Brazil, Social Protection, Growth Strategy, Fiscal Policy, Macroeconomic Stimulus, External Risks, Commodity Prices, Fiscal Space, Dominique Strauss-Kahn, Inflationary Pressures, Poverty Reduction, Panama, Financial Stability, Exchange Rate Flexibility, Macroprudential Regulations, Business News
Dominique Strauss-Kahn

Latin America has enjoyed tremendous economic dynamism and a rising quality of life in recent years. But, faced with new challenges, the question is: how best to sustain this progress?

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The Long and the Short of It -- Government Debt Plans in 2011 and Beyond

Carlo Cottarelli | Posted 05.25.2011

Read More: Fiscal Stimulus, Fiscal Consolidation, Government Debt, Fiscal Monitor, Public Debt, Medium-Term Fiscal Consolidation, Cyclically Adjusted Balance, Sovereign Risk, Commodity Prices, Fiscal Institutions, General Government Balance, Fiscal Policy, Business News
Carlo Cottarelli

As we said in the just-published Fiscal Monitor update, fiscal policy this year in some leading advanced economies is shaping up to be quite different from what was expected just last November.

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Time Waits for No Man: How to Secure Financial Stability in 2011

José Viñals | Posted 05.25.2011

Read More: Capital Flows, Credit Risks, Fiscal Consolidation, Banking Systems, Public Debt, Financial Supervision, European Financial Stability Facility, Sovereign Risk, Bank Capital, Global Financial Stability Report, Financial Crisis, Prudential Regulation, Financial Stability, Bank Funding, Business News
José Viñals

In emerging markets, policymakers must act now to avoid future crises. It is important to maintain the appropriate mix of macroeconomic and prudential financial policies to deal with the challenges posed by capital inflows.

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Watch this (Fiscal) Space: Assessing Room for Fiscal Maneuver in Advanced Countries

Jonathan D. Ostry | Posted 05.25.2011

Read More: Jun I. Kim, Debt Limit, Default, Public Debt, Primary Balance, Fiscal Maneuver, Sovereign Risk, Global Recovery, Fiscal Space, Borrowing Costs, Market Access, Financial Crisis, Mahvash S. Qureshi, Debt Sustainability, Primary Budget Balance, Atish R. Ghosh, Business News
Jonathan D. Ostry

Public debt sustainability in most advanced economies used to be a non-issue, or at most a back-burner one. A couple years back, if the topic came up,...

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Response to David Stockman's 'Four Defamations of the Apocalypse'

Warren Mosler | Posted 05.25.2011

Read More: Bretton Woods, Unemployment, Trade Deficit, Payroll Tax Holiday, Ronald Reagan, David Stockton, Public Debt, Supply-Side Economics, Treasury, Federal Reserve, Tax Hikes, Bush Tax Cuts, Greece, Gold Standard, Politics News
Warren Mosler

David Stockman, a director of the Office of Management and Budget under President Ronald Reagan, is working on a book about the financial crisis and r...

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IMF Sees Financial Risks Still Elevated

José Viñals | Posted 05.25.2011

Read More: Capital Flows, Public Debt, Global Financial Stability Report, Banks, Gfsr, Business News
José Viñals

If the legacy of the present crisis and emerging sovereign risks are not addressed, we run the very real risk of undermining the recovery and extending the financial crisis into a new phase.

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Time to Plan for a Post-Keynesian Era

Jeffrey Sachs | Posted 05.25.2011

Read More: Keynesian Economics, Deficit, Economic Stimulus, Public Debt, Inflation, Recession, Business News
Jeffrey Sachs

We need to reset our macroeconomic timetables. There are no short-term miracles, only the threat of more bubbles if we pursue economic illusions. The watchword must be investment rather than stimulus.

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