America’s real ‘debt dilemma’

by Sandy Brian Hager (forthcoming) In the wake of the current crisis there has been an explosive rise in the level of the US public debt. These massive levels of public indebtedness are expected to keep growing unless there are drastic changes to existing budgetary policies. This apparent dilemma has sparked a debate over which groups should bear the burden of debt repayment and fiscal adjustment. However, one crucial question remains unasked: whose powerful interests are served by the public debt? America’s real ‘debt dilemma’ Every man and woman who owned a Government Bond, we believed, would serve as a … Continue reading America’s real ‘debt dilemma’