TITLE

Saying no to Mr. Ponzi

AUTHOR(S)
Ruby, Michael
PUB. DATE
November 1993
SOURCE
U.S. News & World Report;11/29/93, Vol. 115 Issue 21, p120
SOURCE TYPE
Periodical
DOC. TYPE
Editorial
ABSTRACT
Editorial. Explains how congressional budget making is akin to the greatest Ponzi scheme ever invented. Purchase of US Treasury securities to fund the annual excess of spending over revenue; Why the government will be forced to pay higher and higher interest rates to attract new funds; What will happen when investors demand both interest and principal; The deficit; Entitlements; A better idea from Peter G. Peterson, former commerce secretary.
ACCESSION #
9311247617

 

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