Last Updated March 10, 2009
The $3 Trillion Question
Governments are set to raise over US$3tn in debt this year. But can they all meet their targets? Julian Evans reports.
The practice of contracting debt will almost infallibly be abused in every government. It would scarcely be more imprudent to give a prodigal son a credit in every banker’s shop in London, than to empower a statesman to draw bills, in this manner, upon posterity.”
