IDEAS home Printed from https://ideas.repec.org/p/lev/levypn/04-2.html
   My bibliography  Save this paper

Those "D" Words: Deficits, Debt, Deflation, and Depreciation

Author

Listed:
  • L. Randall Wray

Abstract

Recent economic commentary has been filled with "D" words: deficits, debt, deflation, depreciation. Deficits--budget and trade--are of the greatest concern and may be on an unsustainable course, as federal and national debt grow without limit. The United States is already the world's largest debtor nation, and unconstrained trade deficits are said to raise the specter of a "tequila crisis" if foreigners run from the dollar. Federal budget red ink is expected to imperil the nation's ability to care for tomorrow's retirees. While public concern with deflationary pressures has subsided, concern continues regarding America's ability to compete in a global economy in which wages and prices are falling. In fact, the current situation is far more "sustainable" than that at the peak of the Clinton boom, which had federal budget surpluses but record-breaking private sector deficits. Nevertheless, it is time to take stock of the dangers faced by the U.S. economy.

Suggested Citation

  • L. Randall Wray, "undated". "Those "D" Words: Deficits, Debt, Deflation, and Depreciation," Economics Policy Note Archive 04-2, Levy Economics Institute.
    • Handle: RePEc:lev:levypn:04-2
    as

    Download full text from publisher

    File URL: http://www.levyinstitute.org/pubs/pn/pn04_2.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. L. Randall Wray, "undated". "Deflation Worries," Economics Policy Note Archive 03-5, Levy Economics Institute.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Lino Sau, 2005. "La deflazione da debiti di Irving Fisher nell'era della globalizzazione," Rivista italiana degli economisti, Società editrice il Mulino, issue 3, pages 443-458.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lev:levypn:04-2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Elizabeth Dunn (email available below). General contact details of provider: http://www.levyinstitute.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.