Una caratteristica ricorrente del ciclo economico è il fatto che durante una dura recessione lo stato accumula grossi deficit annuali come conseguenza del calo dei proventi dalle tasse, dell’aumento della spesa per sussidi di disoccupazione e aiuti ai poveri, e degli stimoli vari. Questo manda il debito pubblico alle stelle. Nel caso della “Grande Recessione”…

A recurring feature of the business cycle is that in deep recession years governments run huge annual deficits as a result of declining tax revenue, increased spending on unemployment and poverty relief and assorted stimulus. This causes government debt levels to skyrocket. In the case of the American “Great Recession,” this manifested itself as a…

Om de zoveel maanden nadert de Amerikaanse overheid haar zelfopgelegde “schuldenplafond.” Om de zoveel maanden wordt het Amerikaanse publiek getrakteerd op een theaterstuk over de vraag of het plafond wel of niet moet worden “verhoogd,” inclusief hysterische doemscenario’s over wat er gebeurt als politici niet zoveel geld als ze willen mogen uitgeven aan wat ze…

Every few months, the US government closes in on its self-imposed “debt ceiling.” Every few months the American public gets treated to theatrics on whether or not that ceiling should be “raised,” complete with hysterical projections of doom if the politicians aren’t allowed to spend as much money as they want, on anything they might…

Treasury Secretary Jack Lew says if Congress doesn’t raise the debt ceiling — or, as I call it, the debt sky, because apparently the sky is the limit — the government won’t be able to pay all its bills starting October 17. The Congressional Budget Office says that dire condition won’t set in until sometime between October 22…