Euros & Dollars: How to Fix America’s Debt Problem, Part II
This welfare-state reform is perhaps too radical for many. However, it is designed to solve a radical problem, and radical problems require radical solutions.
This welfare-state reform is perhaps too radical for many. However, it is designed to solve a radical problem, and radical problems require radical solutions.
Congress is borrowing 26 cents of every dollar they spend. Only structural spending reforms can prevent a fiscal meltdown—and time is running out.
The German government again suspends its debt brake. So far, their country has been saved by its formidable export machine. Those days are gone.
Americans for Tax Reform have a new spending reform project. Will it work? Is it ‘conservative enough’? We have the analysis.
The new debt-ceiling deal has its merits, but it also kicks the big spending reform can down the road. It also ignores the broader threat to the U.S. economy: de-dollarization. On that front, there is one event that could end dollar hegemony with one stroke of the pen.
Democrats and Republicans are bickering over the debt ceiling. They will reach an agreement before the June 1st “default” date, but it will only be a stopgap measure. At some point, Congress will face such high costs for its debt that not even the most optimistic investors can trust the U.S. Treasury any longer.
In three simple steps, Europe’s lawmakers can save the continent from stagflation and economic misery.
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