Harvard Economist Sees Sluggish Growth For Years

[Patch]

Harvard University economist Martin Feldstein is forecasting sluggish economic growth for the global economy for years and a lower standard of living for all as a result of the massive deficit spending by the U.S. government.

The govt will be forced to borrow funds needed by business and thus stifle economic growth.


Slàinte,    

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[stevenpd]

This I understand all too well.

[Antwn]

Here's a graph of the national debt as percentage of GDP. Interesting to see how the debt dropped precipitously after WWII regardless of presidential party affiliation. In the 1940s it was at 120%! Obviously there's not much to go on for Obama since he hasn't been in office a year yet. This is just an FYI - not making a political statement by posting it, okay?

http://zfacts.com/p/318.html

Here's a Wiki page with some interesting figures on who we've borrowed from

http://en.wikipedia.org/wiki/United_States_public_debt