Who is going to borrow what from whomfrom where?

In 2009 and 2010

…Washington will sell more than $5 trillion in new debt

 

…A decade from now

…Washington’s outstanding debt could equal 82 percent of GDP

or just over $17 trillion

 

A year ago, under old budget and policy assumptions

 and before the financial crisis escalated

the Congressional Budget Office

 projected that outstanding federal debt

would hit $5.3 trillion in 10 years

 

Are some governments stabilizing the global economy

by indebting relatively younger citizens and their children

who may not reap the prosperity of their parents?

 

In 2009 and 2010… the 16-nation euro zone

will sell nearly …$2.6 trillion… in new debt

while Britain plans to offer …$799 billion

 

… South America and Eastern Europe will be affected by rising rates

as they refinance their existing debt

 

Rising Interest on Nations’ Debts May Sap World Growth

Nelson D Schwartz

New York Times, June 4, 2009