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Outlay of $14 Trillion Hasn't Solved Problem of Debt

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At www.nytimes.com

he amount of money thrown at rescuing the world economy since the beginning of the current crisis is truly staggering -- probably more than $14 trillion -- and the financial spigots are still open. Governments already face huge political problems in deciding between spending cuts, tax increases and structural overhauls when defining a route to fiscal probity, as seen in a near-stalemate in the United States and in recent riots in Greece. Austerity programs have won out so far, but they may be reaching a limit.

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At www.nytimes.com


 

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