HKS Affiliated Authors

Excerpt

Debt Ceilings, Bombs, Cliff and the Trillion Dollar Coin. Jeffrey Frankel, January 16, 2013, Opinion. "Needless to say, the US has a long-term debt problem. The problem is long-term both in the sense that it pertains to the next several decades rather than to this year. (Indeed, the deficit/GDP ratio has been falling since 2009, despite the weakness of the economy.) The problem is also long-term in the sense that we have known about it for a long time; it was clear in 1991 and should still have been clear in 2001. It should be almost as needless-to-say that the approaching debt ceiling bomb is not helpful in solving our fiscal situation, any more so than were previous standoffs..." Link verified April 3, 2014