Publications

Policy Note 2000/6 | June 2000

Drowning in Debt

The economic expansion in the United States has been driven to an unusual extent by falling personal saving and rising borrowing by the private sector. If this process goes into reverse, as has happened under comparable circumstances in other countries, there will be severe recession unless there is a big relaxation in fiscal policy.

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Publication Highlight

Testimony
Statement of Senior Scholar L. Randall Wray to the House Budget Committee, US House of Representatives
Reexamining the Economic Costs of Debt
Author(s): L. Randall Wray, Yeva Nersisyan
November 2019

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