The U.S. Is Short on Options to Confront Next Crisis
- Published: Thursday, 27 August 2015 11:13
Stock market and commodity price declines are sweeping the globe, raising a question: If the U.S. economy lands in another hole, what tools does it have to dig itself out?
Perhaps not many, or at least not as many as before the 2008 meltdown.
U.S. debt stands at 74 percent of gross domestic product, compared with 35 percent in 2007, based on a Congressional Budget Office report released Tuesday. That burden is expected to grow further in coming years, limiting government options for additional fiscal stimulus in the form of spending or lower taxes.
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