Government Information

Earl Gregg Swem Library

Federal Debt and the Risk of a Fiscal Crisis

Categories: Argentina,Financial Crisis/Markets,Govt Finance,Greece,Ireland

http://www.cbo.gov/ftpdocs/116xx/doc11659/07-27_Debt_FiscalCrisis_Brief.pdf

Argues that federal debt will rise to unsupportable levels unless policymakers restrain the growth of spending, increase revenues significantly, or adopt some combination of the two.  Describes in detail the sequence of events in a fiscal crisis and reviews recent crises in Argentina, Ireland, and Greece From the Congressional Budget Office