How a flush country could be in debt trouble
By Zachary A. Goldfarb,
WashPost
Published: July 29
The United States isn’t broke. The government collects $2 trillion in tax revenue a year and has been able to borrow even more at very low interest rates.
Beyond government, U.S. companies led by giants such as Apple and General Electric have saved nearly $2 trillion at home and $1 trillion more overseas. U.S. banks have up to $2 trillion available to lend.
Yet the U.S. government confronts a debt crisis, and fears are mounting about a possible default. How could this be?
The answer comes down to politics and math.
(More here.)
WashPost
Published: July 29
The United States isn’t broke. The government collects $2 trillion in tax revenue a year and has been able to borrow even more at very low interest rates.
Beyond government, U.S. companies led by giants such as Apple and General Electric have saved nearly $2 trillion at home and $1 trillion more overseas. U.S. banks have up to $2 trillion available to lend.
Yet the U.S. government confronts a debt crisis, and fears are mounting about a possible default. How could this be?
The answer comes down to politics and math.
(More here.)
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