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7. Global Debt Sparks Financial Crisis - JOSEPH STERNBERG 090826
Published 1 month, 1 week ago
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CAPTION 1885 TREASURY DEPARTMENT
Global Debt Sparks Financial Crisis
Joseph Sternberg discusses global fiscal crises, focusing on soaring government debt in developed countries. In the United Kingdom, Prime Minister Andy Burnham has failed to tackle public finances, choosing instead to campaign retroactively against Margaret Thatcher's legacy rather than implementing needed welfare and NHS reforms. Francefaces similar political gridlock, prompting some economists to unrealistically suggest that the European Central Bankforgive its national debt. Meanwhile, the United States faces a looming 2032 deadline when Social Security faces technical insolvency, forcing a crucial entitlement reform debate. Lastly, Sternberg examines newly appointed Federal Reserve Chairman Kevin Warsh's hawkish stance on inflation. (7)
Global Debt Sparks Financial Crisis
Joseph Sternberg discusses global fiscal crises, focusing on soaring government debt in developed countries. In the United Kingdom, Prime Minister Andy Burnham has failed to tackle public finances, choosing instead to campaign retroactively against Margaret Thatcher's legacy rather than implementing needed welfare and NHS reforms. Francefaces similar political gridlock, prompting some economists to unrealistically suggest that the European Central Bankforgive its national debt. Meanwhile, the United States faces a looming 2032 deadline when Social Security faces technical insolvency, forcing a crucial entitlement reform debate. Lastly, Sternberg examines newly appointed Federal Reserve Chairman Kevin Warsh's hawkish stance on inflation. (7)