Varningsord om USAs statsfinanser; vad hände 2008? och Sveriges primära budgetöverskott
The two US Treasury chiefs in office during the global financial crisis warned about potential threats to the $29 trillion Treasuries market ranging from an unsustainable fiscal path to concerns about the political system in Washington.
“Our current trajectory is unsustainable” with regard to federal borrowing, former Treasury Secretary Henry Paulson said
“I don’t know whether that means you hit the wall, you know, in six months or six years, or whatever.”
Timothy Geithner, who succeeded Paulson at the start of 2009, said in the same CNBC interview that 10-year Treasury yields are trading at “pretty modest levels at the moment, reflecting some level of ultimate confidence the US will run the country in a sensible way.”
“But it depends ultimately on whether the system is able to bring revenues and expenditures back into balance, bring those deficits down a bit, and protect the things in terms of rule of law and Fed independence that make people confident” about Treasuries, Geithner said.
The US government plans to borrow $100 billion in a single Treasury debt sale this week, an unprecedented figure that showcases both the magnitude of its borrowing needs and its ability to attract investors.
Treasury Secretary Henry Paulson of Goldman Sachs
By Bush administration standards, Henry Paulson, the Treasury secretary, is a good guy. He isn’t conspicuously incompetent; and he isn’t trying to mislead us into war, justify torture or protect corrupt contractors.
Paul Krugman, NYT, December 10, 2007
https://www.internetional.se/hmp.htm
Treasury Secretary Henry Paulson, Federal Reserve Bank of New York President Timothy Geithner, and Federal Reserve Chair Ben Bernanke to save the United States from an economic collapse.
https://englundmacro.blogspot.com/2020/11/panic-untold-story-of-2008-financial.html
Timothy Geithner
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