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US Debt

Essential Reading from the Institute

Congressional Testimony: Flirting with Disaster: Solving the Federal Debt Crisis [pdf]
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to Joint Economic Committee of Congress, hearing on "Flirting with Disaster: Solving the Federal Debt Crisis."
March 14, 2013

Congressional Testimony: America Needs More Expansionary Monetary Policy [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
Statement before the US House of Representatives Committee on Financial Services' Subcommittee on Monetary Policy and Trade hearing entitled, "Near-Zero Rate, Near-Zero Effect? Is 'Unconventional' Monetary Policy Really Working?"
March 5, 2013

Congressional Testimony: The Statutory Debt Limit [pdf]
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to the House Ways and Means Committee, hearing on statutory debt limit
January 22, 2013

RealTime Economic Issues Watch: Why Europeans and Americans Are Addicted to Budget Brinkmanship
by Jacob Funk Kirkegaard
January 9, 2013

Policy Brief 12-25: Currency Manipulation, the US Economy, and the Global Economic Order [pdf]
by C. Fred Bergsten, Peterson Institute for International Economics
and Joseph E. Gagnon, Peterson Institute for International Economics
December 2012

Policy Brief 12-15: Restoring Fiscal Equilibrium in the United States [pdf]
by William R. Cline, Peterson Institute for International Economics
June 2012

Peterson Perspective: How Imminent Is the US Budget and Debt Crisis? [pdf]
by Simon Johnson, Peterson Institute for International Economics
Simon Johnson discusses the reaction to his call for a 20-year program of fiscal consolidation outlined in his book White House Burning.
April 24, 2012

Peterson Perspective: A New Consensus at the Fed? [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
Joseph E. Gagnon says the US Federal Reserve's latest actions indicate that Chairman Bernanke may have quelled dissent over quantitative easing while calling on Congress to act on growth.
November 3, 2011

RealTime Economic Issues Watch: How Much Refinancing?
by Joseph E. Gagnon
October 27, 2011

RealTime Economic Issues Watch: The Last Bullet
by Joseph E. Gagnon
October 24, 2011

Book: The Global Outlook for Government Debt over the Next 25 Years: Implications for the Economy and Public Policy
Policy Analyses in International Economics No. 94
by Joseph E. Gagnon assisted by Marc Hinterschweiger
June 2011

Testimony: China's Lending Activities and the US Debt
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to the US-China Economic and Security Review Commission hearing on US Debt to China: Implications and Repercussions, Panel I: China's Lending Activities and the US Debt
February 25, 2010

Book: The Long-Term International Economic Position of the United States
Special Report No. 20
edited by C. Fred Bergsten
April 2009

Speech: The United States in the World Economy
by C. Fred Bergsten, Peterson Institute for International Economics
Speech delivered at the Chautauqua Lecture Series, "The US Economy: Beyond a Quick Fix"
August 12, 2011

RealTime Economic Issues Watch: Can a Debt Ceiling Be Sensible?—The Case of Denmark
by Jacob Funk Kirkegaard
July 26, 2011

Congressional Testimony: Spend Less, Owe Less, Grow the Economy [pdf]
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to the Joint Economic Committee of Congress, hearing on "Spend Less, Owe Less, Grow the Economy"
June 21, 2011

Congressional Testimony: Tax Reform and the Tax Treatment of Debt and Equity
by Simon Johnson, Peterson Institute for International Economics
Testimony submitted to the US House Committee on Ways and Means and the US Senate Committee on Finance for the hearing on "Tax Reform and the Tax Treatment of Debt and Equity"
July 13, 2011

Peterson Perspective: The Debt Limit Debate Is a Distraction [pdf]
by Simon Johnson, Peterson Institute for International Economics
Simon Johnson says the debate on the debt limit overlooks the need to address long-term healthcare and pension costs and to raise revenue, perhaps through a value-added tax (VAT).
July 27, 2011

Peterson Perspective: The Default Debate, Markets, and Selling Gold [pdf]
by Joseph E. Gagnon, Peterson Institute for International Economics
Joseph E. Gagnon assesses some unusual options the US Treasury might choose, including gold sales, if there is no agreement to raise the debt ceiling.
July 20, 2011

Peterson Perspective: Debt Limit Accord Should Include Budget Issues [pdf]
by Edwin M. Truman, Peterson Institute for International Economics
Edwin M. Truman argues that markets are concerned not only about a failure to raise the debt limit but also a failure to address US budget problems.
July 15, 2011

Book: The United States as a Debtor Nation
by William R. Cline
September 2005