The Dangers of Debt Reduction

Paul Davidson

Chapter 11 in Interpreting Keynes for the 21st Century, 2007, pp 153-155 from Palgrave Macmillan

Abstract: Abstract Are drastic reductions in the federal debt a good idea? President Clinton thinks so. He plans to allow budget surpluses to accumulate over 15 years, cutting the federal debt held by the public to a percentage of total output not seen since 1917. But there are grave dangers in his proposal.

Keywords: Social Security; Government Spending; Full Employment; Government Bond; Trust Fund (search for similar items in EconPapers)
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-28655-9_11

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DOI: 10.1057/9780230286559_11

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