Large deficits will result in rising interest rates and an ever-growing ratio of debt service to GDP (gross domestic product),
Large deficits will result in rising interest rates and an ever-growing ratio of debt service to GDP (gross domestic product),
As I have said previously to this committee, because of the nature of the type of acceleration in productivity and dynamic change that is occurring in the American economy, my first priority would be to allow as much of the surplus to flow through into a reduction in debt to the public,
helped to lower risk premiums on debt and have contributed importantly to the favorable investment environment.
I must say, I never expected to see the day where I would be talking about anything other than reducing the debt, I'm running into the tyranny of zero, which is where you can't reduce (the debt) any more
© 2020 Inspirational Stories
© 2020 Inspirational Stories