One of MSNBC's lead stories today...
Geithner travels globe, pitching U.S. debt
Treasury secretary must convince foreign governments investment is safe
...Publicly traded U.S. debt — which excludes deficits the government owes to itself in Social Security and other trust funds — stood at 41 percent of the total economy in 2008. It is projected to climb to 82 percent of the entire economy by 2019...
"If these trends are not reversed, the world will stop buying our debt and the economy will break," said Mark Zandi, chief economist at Moody's Economy.com.
Full article HERE.
Geithner travels globe, pitching U.S. debt
Treasury secretary must convince foreign governments investment is safe
...Publicly traded U.S. debt — which excludes deficits the government owes to itself in Social Security and other trust funds — stood at 41 percent of the total economy in 2008. It is projected to climb to 82 percent of the entire economy by 2019...
"If these trends are not reversed, the world will stop buying our debt and the economy will break," said Mark Zandi, chief economist at Moody's Economy.com.
Full article HERE.
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