TIME Magazine- The Economy
Our Real Debt Problem
By Zachary Karabell | @zacharykarabell
July 19, 2011
On Friday, I posted a piece on the U.S. debt and how we are creating a false crisis given current interest rates and our ability to manage that. Judging from the responses, you would have thought I was penning a piece in defense of eugenics. OK, the online world is not known for its sobriety, but the heated reaction to my post is typical of the current debate about debt.
The hysteria that debt now generates is not just annoying noise. It has real ramifications and sharply limits out ability to have a measured, balanced and sober debate about debt, its proper level and what is or isn’t smart economic policy.