The Fact the Media Missed: Overall Debt in the United States Grew at the Fastest Rate Ever Last Year
Economist Dean Baker, in his weekly newsletter (March 8, 2004):
Nation's Debt Grew at Rapid Pace in 2003 Eduardo Porter
New York Times, March 5, 2004, Page C4
This article reports on new data from the Federal Reserve Board on debt and financial flows in 2003. It notes that overall debt, and especially consumer debt, grew at their fastest pace since the mid-eighties. It is worth noting that the inflation rate in the mid-eighties was approximately 3.5 percent, while it was less than 2.0 percent in 2003. In real terms, the rate of debt growth in 2003 was the fastest on record.
comments powered by Disqus
- Call to help Moroccan historian Maâti Monjib, who has been on hunger strike since 6 October 2015
- Charles Gillispie, trailblazer in the history of science, dies at 97
- NYT History Book Reviews: Who Got Noticed this Week?
- NC student’s senior thesis selected as top paper sheds light on little-known victory over Jim Crow
- Historian Who Probed Austria’s Nazi Past Begins Sentence for Defrauding State