Showing posts with label Fiscal Crisis. Show all posts
Showing posts with label Fiscal Crisis. Show all posts

Sunday, July 12, 2015

Debt "Headed Toward a Level the U.S. Has Seen Only Once"

Debt "Headed Toward a Level the U.S. Has Seen Only Once"

July 12, 2015 CBO Director Keith Hall , Debt Headed 0 Comments

CBO: Debt Headed to 103% of GDP; Level Seen Only in WWII; 'No Way to Predict Whether or When' Fiscal Crisis Might Occur Here

By Terence P. Jeffrey, July 10, 2015 CNS News

(CNSNews.com) - Testifying in the U.S Senate yesterday, Congressional Budget Office Director Keith Hall warned that the publicly held debt of the U.S. government, when measured as a percentage of Gross Domestic Product, is headed toward a level the United States has seen only once in its history—at the end of World War II.

To simply contain the debt at the high historical level where it currently sits—74 percent of GDP--would require either significant increases in federal tax revenue or decreases in non-interest federal spending (or a combination of the two).

Historically, U.S. government debt held by the public, measured as a percentage of GDP, hit its peak in 1945 and 1946, when it was 104 percent and 106 percent of GDP respectively.

Read More: http://cnsnews.com

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Friday, July 25, 2014

Worried about money printing?

July 25, 2014 FED , Fiscal Crisis 0 Comments
Greenspan: Bubbles Can’t Be Stopped Without ‘Crunch’--Fears of False Dawns, Fed Exit

By Greg Robb, Jul. 25, 2014, Marketwatch.com

WASHINGTON (MarketWatch) — Former Federal Reserve Chairman Alan Greenspan has always been a student of the economy. Since the financial crisis, he’s become a student of human nature.

Sitting in his office with a view of the Washington Monument in the distance, Greenspan is eager to share the insight distilled in his recent book, “The Map and the Territory,” due out in paperback this fall.

Greenspan, now the president of Greenspan Associates LLC, an economic consulting firm, spoke to MarketWatch about the current stance of Fed policy, the economy and what to do about asset bubbles. The economy will do all right in the near term, he said, buoyed by a strong equity market, but he added that he remains worried that we could be facing another false dawn.Greenspan, 88, who was chairman of the U.S. central bank for more than 18 years, from 1987 to 2006, managed to steer the economy through multiple crises, mainly by slashing rates and remaining upbeat. He suffered a remarkable fall from grace after leaving office and has apologized for trusting big banks too much. He has since gone back and re-examined his views on the economy.

The interview has been edited for length and clarity.

MarketWatch: What is the biggest challenge facing the Fed?

Read the full story:  www.marketwatch.com

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