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
Opinion
Opinion
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