Word: debt
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...show. He observed that if Congress approves the budget as it has been proposed by the Administration and deficits consequently move up at the rate that the Congressional Budget Office has projected in its analysis of the budget, the nation will become bankrupt and people would stop buying American debt. (See the 25 people to blame for the financial crisis...
...odds that the American Treasury will not be able to sell debt are still relatively low. But, no one, except perhaps Senator Gregg, sitting in high office in the federal government has asked if there are any parachutes in the plane on the off chance that all four engines go out at the same time. That kind of question is the work of unstable or anarchistic minds...
Second, Geithner said the still-nascent Federal Reserve program launched last week to restart non-bank commercial lending [i.e., by helping investors buy securities backed by auto loans, credit card debt, etc.] would be expanded to provide funding for investors who want to buy certain kinds of mortgage-backed securities. The government's enthusiasm for the starter plan, known as "TALF," has outstripped market enthusiasm, but there is some life in it. The Federal Reserve has put up over a $1 trillion in potential lending already, though only $9 billion in deals have been done so far. Geithner...
...route that the president will ultimately take. For starters, the CBO projections, on out years, have a significant built-in margin of error. Still, in an interview Friday, Peter Orszag, Obama's Budget Director, admitted that long-term deficits projected by the CBO "would lead to rising debt-to-GDP ratios in a manner that would ultimately not be sustainable." He was not alone. As soon as the report came out, even Democrats who support the President's policies said that the budget would have to be rethought. "We have got to get back to a more sustainable fiscal circumstance...
...According to the Congressional bean counters, the economy is likely to grow at a slower rate than Obama had projected when the budget was drafted, and than several other economic forecasts anticipate. Under the Administration's plans, that means an explosion in government debt after the current recession ends, with sustained deficits even larger than the ones caused in the 1980s by the policies of Ronald Reagan. The national debt, the CBO calculated, would go from 41% of the size of the nation's economic output in 2008 to 82% of the economic output in 2019. In other words...