“How to avoid a debt doomsday…”
Writing in Politico on October 17th, 2010, Maya MacGuineas–the director of the Committee for a Responsible Federal Budget–described different scenarios that could trigger a US debt crisis:
We have already seen how quickly markets can turn against overly indebted countries. While the United States is not likely to become Greece in the immediate future, the parallels are too similar for comfort. The fact is debt investors eventually grow intolerant of countries that don’t have plans to improve their fiscal condition. And markets may eventually turn against the United States. If that happens, the situation could deteriorate very quickly.
Read the whole op-ed at CNN Money.
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