Today there was another reminder of just how fragile the world economy remains. The budget deficits of Greece, Portugal and Spain -- nations that use the Euro -- exceed 8 percent of GDP and could impact the economic fortunes of countries far from Southern Europe. These governments risk defaulting on their debts by failing to control spending.
All Posts Tagged With: "deficit"
The U.S. budget deficit is increasing, and could reach $9 trillion over the next 10 years. C. Fred Bergsten of the Peterson Institute for International Economics discusses the possibility of a fall in the value of the dollar.
Susan Chira of The New York Times and Gideon Rose of Foreign Affairs Magazine discuss the week’s top stories: Continuing turbulence in Iran and this week's U.S. talks with both Israel and China.
After two days of high-level U.S.-China talks, the Obama administration agreed to reduce the U.S. deficit once the financial crisis has abated. Nicholas Lardy of the Peterson Institute discusses the evolving economic relationship between the two countries.