A different take on the (not really) America’s Debt Crisis

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Everyone has been in a panic this week over America’s impending fiscal collapse, but I think the reality is that America does not face an immediate debt crisis. Take a look at the simplest indicator, the day that Standard & Poor’s raised its now famous warnings about America’s debt, markets decided to lower America’s borrowing costs and the dollar rose against its principal alternative, the euro.

The real problem for America may well be that it does not face a short-term crisis. Over the last few years, everyone has been worrying about America’s debt, and despite all that public worrying, markets keep lowering the rates at which we can borrow money.

via Fareed’s Take on America’s debt crisis: why no problem is the problem – Global Public Square – CNN.com Blogs.

Anyone want to take a stab at this one?

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Joel L. Watts
Joel L. Watts holds a Masters of Arts from United Theological Seminary with a focus in literary and rhetorical criticism of the New Testament. He is currently a Ph.D. student at the University of the Free State, analyzing Paul’s model of atonement in Galatians. He is the author of Mimetic Criticism of the Gospel of Mark: Introduction and Commentary (Wipf and Stock, 2013), a co-editor and contributor to From Fear to Faith: Stories of Hitting Spiritual Walls (Energion, 2013), and Praying in God's Theater, Meditations on the Book of Revelation (Wipf and Stock, 2014).

2 thoughts on “A different take on the (not really) America’s Debt Crisis

  1. Rachel Maddie once did a special report showing how debt levels increase under D’s & R’s. It wasn’t even close. Republicans run up debt and deficits with programs meant to benefit those who already have. This forces D’s to deal with the crises left in their wake. Then, R’s label everything D’s do “liberal” and it poisons the common sense approach they take to strengthening the economy. That, also, has the effect of forcing D’s to put off their policy initiatives. This explains everything since the Great Society.

  2. Also, the hair-in-fire approach to public opinion on debt and deficits helps to give their argument credibility. Unfortunately…

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