Bush’s fiscal legacy: bigger debt

Christian Science Monitor

09/27/07

Whatever happens over the next 16 months, President Bush will leave office having presided over one of the fastest accumulations of government debt in the history of the United States. During his time in office, federal debt held by the public -– Washington’s equivalent of a credit-card balance -– will have increased by more than 50 percent, to about $5.5 trillion. Uncle Sam will be paying interest on that sum for years to come. Much of that borrowed money paid for military expenses after the 9/11 attacks -– spending unanticipated when Mr. Bush took office. Measured against the size of the US economy, the public debt isn’t far outside historical norms...

//www.csmonitor.com/2007/0927/p01s02-usec.html



The shaking tower of debt

Ludwig von Mises Institute
by Thorsten Polleit

09/26/07

The repercussions of the turmoil in the US subprime mortgage market are increasingly being felt around the world. What was initially thought to be a problem confined to a US credit market segment has increasingly transformed itself into an erosion of investor confidence in credit quality in general and, in some countries, concerns about the reliability of the banking sector...

//www.mises.org/story/2716


Informant: Thomas L. Knapp



//freepage.twoday.net/search?q=mortgage

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