The United States economy is now out of the emergency room and appears to be on a slow path to recovery. But enormous dosages of monetary medicine continue to be administered and, before long, we will need to deal with their side effects.
[eventually] truly major changes in both taxes and outlays will be required
get our country back on its feet and flourishing — “whatever it takes” still makes sense. Once recovery is gained, however, Congress must end the rise in the debt-to-G.D.P. ratio and keep our growth in obligations in line with our growth in resources.
Read the entire editorial by clicking on the following: Op-Ed Contributor - The Greenback Effect - NYTimes.com
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