Passing The Buck: Can democracies ever handle debt?

Source: Jay Mallin, Bloomberg News

The ability to raise capital by issuing debt is a double-edged sword for democratic governments. ‘Sovereign debt’ can finance national-building investments, or buy immediate popular support by putting off painful fiscal choices. The line between the two can be difficult to draw. However, recent American paroxysms over the debt limit and the rolling Eurozone debt… Continue Reading ➤