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July 29, 2010
Director of CBO Says Meltdown @ Any Moment
With U.S. government debt already at a level that is high by historical standards,
and the prospect that, under current policies, federal debt would continue to grow, it is possible that interest rates might rise gradually as investors' confidence in the U.S. governmentâs finances declined, giving legislators sufficient time to make policy choices that could avert a crisis. It is also possible, however, that investors would lose confidence abruptly and interest rates on government debt would rise sharply, as evidenced by the experiences of other countries. -- Congressional Budget Office Director on Federal Debt and the Risk of a Financial Crisis [Emphasis Added]
Posted by Vanderleun at July 29, 2010 12:34 PM. This is an entry on the sideblog of American Digest: Check it out.