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Posts Tagged ‘monetization of debt’

Rogoff: America’s Endless Budget Battle

Posted by Larry Doyle on October 1st, 2013 8:59 AM |

With the shutdown of our government overnight, the proverbial lights in Washington have significantly dimmed and the finger pointing begins in a fashion that seems all too similar to a junior high school lunchroom.

Yet while Uncle Sam is not open for business today, our nation faces another enormous issue right around the corner as well, that is, the debt ceiling.

Some may think the costs of shutting down our government and playing chicken with the debt ceiling are not significant given that our overall level of interest rates remain low. But why is that? Because the Fed is purchasing upwards of 90% of net new debt issuance.¬† (more…)






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