White House Chief of Staff Mark Meadows and US Treasury Secretary Steven Mnuchin head for a meeting at the US Capitol in Washington, DC, on August 1, to discuss measures to bolster a US economy hobbled by Covid-19. Photo: Bloomberg White House Chief of Staff Mark Meadows and US Treasury Secretary Steven Mnuchin head for a meeting at the US Capitol in Washington, DC, on August 1, to discuss measures to bolster a US economy hobbled by Covid-19. Photo: Bloomberg
White House Chief of Staff Mark Meadows and US Treasury Secretary Steven Mnuchin head for a meeting at the US Capitol in Washington, DC, on August 1, to discuss measures to bolster a US economy hobbled by Covid-19. Photo: Bloomberg
Todd G. Buchholz
Opinion

Opinion

Todd G. Buchholz

US coronavirus stimulus: in the end, it’s Americans who must pay for it

  • Inflation helped reduce the federal government’s massive debt obligations post WWII, but such a strategy won’t work with today’s investors, who have other options
  • The US must issue longer-term bonds at today’s low rates and reform its retirement programmes to defuse the debt bomb, or face bankruptcy

White House Chief of Staff Mark Meadows and US Treasury Secretary Steven Mnuchin head for a meeting at the US Capitol in Washington, DC, on August 1, to discuss measures to bolster a US economy hobbled by Covid-19. Photo: Bloomberg White House Chief of Staff Mark Meadows and US Treasury Secretary Steven Mnuchin head for a meeting at the US Capitol in Washington, DC, on August 1, to discuss measures to bolster a US economy hobbled by Covid-19. Photo: Bloomberg
White House Chief of Staff Mark Meadows and US Treasury Secretary Steven Mnuchin head for a meeting at the US Capitol in Washington, DC, on August 1, to discuss measures to bolster a US economy hobbled by Covid-19. Photo: Bloomberg
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Todd G. Buchholz

Todd G. Buchholz

Todd G. Buchholz has served as director of economic policy under president George H.W. Bush and as managing director of the Tiger hedge fund. He was awarded Harvard University’s Allyn Young Teaching Prize in economics and is the author of New Ideas from Dead Economists and The Price of Prosperity.