G2TT
来源类型Research Report
规范类型报告
Catastrophic Budget Failure
Leonard E. Burman; Katherine Lim; Jeffrey Rohaly; Joseph Rosenberg
发表日期2010-09-01
出版年2010
语种英语
概述Continuation of current U.S. fiscal policy will lead to an enormous accumulation of debt with potentially disastrous economic consequences. Exacerbated by the recent economic turmoil and fueled by the willingness of creditors to lend at very low interest rates, there is signifi cant risk that necessary fi scal reform will be put off. In this paper, we consider the causes, mechanisms, and macroeconomic fallout of
摘要
Continuation of current U.S. fiscal policy will lead to an enormous accumulation of debt with potentially disastrous economic consequences. Exacerbated by the recent economic turmoil and fueled by the willingness of creditors to lend at very low interest rates, there is signifi cant risk that necessary fi scal reform will be put off. In this paper, we consider the causes, mechanisms, and macroeconomic fallout of a catastrophic budget failure a situation in which markets perception of the credit worthiness of the U.S. government rapidly deteriorates, leaving it unable to access credit markets at any reasonable rate of interest and generating a high probability of the previously unthinkable: the U.S. government defaulting on its debt obligations.
主题Taxes and Budget
URLhttps://www.urban.org/research/publication/catastrophic-budget-failure
来源智库Urban Institute (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/477116
推荐引用方式
GB/T 7714
Leonard E. Burman,Katherine Lim,Jeffrey Rohaly,et al. Catastrophic Budget Failure. 2010.
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