De schuldklok beweegt dichter naar middernacht
WASHINGTON–(BUSINESS WIRE)–
De congresinactiviteit leidt tot de voortdurende fiscale verslechtering van de natie in het derde trimester
Vandaag heeft de commissie voor de beoordeling van de schuldklok haar tweede update van de schuldklok afgerond. De schuldklok schat in hoeveel relatieve tijd er nog overblijft voordat het begrotingsbeleid van de federale regering tot een begrotingscrisis leidt die resulteert in een grote verstoring van de Amerikaanse economie en de markten voor schatkistpapier. De beoordelingscommissie heeft sinds de eerste beoordeling een voortdurende verslechtering van de begrotingspositie van de federale overheid gezien en is tot de conclusie gekomen dat de klok nu op vier minuten voor middernacht staat.
Debt Default Clock Moves Closer to Midnight
WASHINGTON–(BUSINESS WIRE)–
Congressional inaction leads to nation’s continued fiscal deterioration in the 3rd quarter
Today, the Debt Default Clock Review Committee completed its second update of the Debt Default Clock. The Debt Default Clock estimates how much relative time remains before the Federal government’s fiscal policies lead to a fiscal crisis resulting in major disruption to the American economy and the treasury securities markets. The Review Committee has seen continued deterioration in the Federal government’s fiscal position since the initial assessment and has concluded that the clock now stands at four minutes to midnight.
Baker Spring, Chairman of the Review Committee, said, “The Review Committee believes the large absolute amount of outstanding Federal government debt, and the burgeoning size of these obligations relative to the United States economy, along with the predominantly short-term maturity structure of Government debt, which subjects the federal government’s budget to significant refinancing risks and increasing interest rate risk, combined with the potential for foreign investor manipulation of our bond markets, all have placed the United States in an increasingly perilous fiscal position.”
Dean Clancy, a member of the Review Committee, said “The current stalemate in the U.S. Congress and its inaction and inability to address these critical fiscal and monetary issues in a meaningful way has led to the Committee’s decision to advance the clock closer to the midnight hour.”
In addition to the Default Clock update, the Federal government’s credit score that was developed by the Review Committee remains in the “POOR” category.
About the Debt Default Clock Review Committee
The Review Committee is an initiative of Compact for America Educational Foundation, Inc. The Foundation is a U.S. 501(c)3 non-profit educational corporation that provides leadership and guidance to state governors, state legislators, and members of Congress and the Administration in having states resolve national issues of importance that the U.S. Congress is either unable or unwilling to address. For additional information, visit www.compactforamerica.org and follow on Twitter at @DefaultClock. Data sources and a full description of the Debt Default Clock initiative are available at www.debtdefaultclock.us.
Baker Spring and members of the Review Committee are available to discuss this update. Please contact Baker Spring at (703) 812-8178 or baker.spring@compactforamerica.org to arrange for an interview.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181001005081/en/
Contacts
Compact for America Educational Foundation Inc.
Baker Spring, 703-812-8178
baker.spring@CompactforAmerica.org