By Adrian Ineichen What Is It? This week has brought us one step or 1336 pages closer to revamping our financial regulations and with that hopefully also to strengthening the financial markets: The Senate Committee on Banking, Housing & Urban Affairs unveiled its bill that picks up ideas from the bill that passed the House […]
U.S. Public Finances: We’re Screwed!
By Adrian Ineichen In 2010, the US federal government will run a projected deficit of $1.556tr or about 10.8% of GDP. The total US federal public debt outstanding is currently $12.3tr or 85.3% of our GDP. Excluding federal intragovernmental holdings, but adding US state and local governments’ debt, we still owe $10.3tr or 70.9% of […]