Drowning in debt

New York Daily News
by Mort Zuckerman

08/09/09

Obama’s spending and borrowing leaves U.S. gasping for air …. The unprecedented, improbable and indeed almost unimaginable global financial crisis has virtually put an end to the comfortable notion that American and Western capitalism would dominate the world economy. In turn, the financial meltdown threatening another Great Depression has been the rationale for a phenomenal expansion of government spending to prop up demand and fend off economic disaster...

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Informant: Thomas L. Knapp



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