The Great Debate

Why public debt is not like credit card debt

By Robert Kuttner
January 14, 2013

One big part of the well-financed campaign for economic austerity is the contention that the public debt is like a national credit card. If we keep charging on it, the argument goes, we’ll get overwhelmed with interest costs, suffer a reduced standard of living and, pretty soon, go bankrupt.

Shared sacrifice – except for CEOs

By Matt Stoller
January 8, 2013

The hypocrisy over deficits and calls for shared sacrifice can be illustrated with one simple statistic. According to the Institute for Policy Studies, 25 of the most-well-paid chief executives got higher compensation than their companies paid in federal taxes.  There’s a class war on, as Warren Buffett has noted, and his class is winning it.

from David Cay Johnston:

The hidden dangers of low interest rates

By David Cay Johnston
January 10, 2012

The Fed's campaign to hold short-term interest rates near zero is a loser for taxpayers. A rise in rates would also burden taxpayers, but it would come with a benefit for those who save.

At least U.S. has Japan to fall back on

February 18, 2010

(James Saft is a Reuters columnist. The opinions expressed are his own)

The bad news for holders of U.S. debt, in case you missed it, is that China has sold so many Treasuries that it is no longer America’s leading lender.

from Commentaries:

Why the U.S. needs a Value Added Tax

September 8, 2009

Swelling deficits and an aging population leave few palatable options when it comes to taxes.

Europe borrows from Peter to lend to Peter

July 28, 2009

jamessaft1(James Saft is a Reuters columnist. The opinions expressed are his own)

Europe’s experiment in borrowing from Peter to pay Peter argues for a slow economic recovery with a low ceiling.

Bond markets give stress test thumbs down

May 8, 2009

James Saft Great Debate – James Saft is a Reuters columnist. The opinions expressed are his own –

Bond market vigilantes saddle up

By J Saft
April 10, 2009

jimsaftcolumn– James Saft is a Reuters columnist. The opinions expressed are his own –

U.S. government borrowing runs into resistance

March 26, 2009

John Kemp Great Debate– John Kemp is a Reuters columnist. The views expressed are his own –