Robert Rubin Sees 'Enormous Risks' to US Federal Deficits
“The risks are enormous and some of them are materializing already, like higher interest rates,”
The danger is that when markets are “out of sync with reality,” they can then “correct savagely” — as happened when Greek bond premiums over German ones soared during the euro crisis, he said.
The Clinton administration enacted tax hikes and enjoyed a post-Cold War economic boom that helped shrink the fiscal deficit dramatically, even leading to surpluses by the end of the decade.
Bloomberg 24 januari 2024
In 1999, Alan Greenspan, Robert Rubin and Lawrence Summers were celebrated as
“The Committee to Save the World” on the cover of Time magazine.
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