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JOURNAL OF MANAGEMENT POLICY AND PRACTICE
Managing Federal Debt: A Two Phased Approach
Author(s): Warren Matthews, Robert Driver
Citation: Warren Matthews, Robert Driver, (2013) "Managing Federal Debt: A Two Phased Approach," Journal of Management Policy and Practice, Vol. 14, Iss. 1, pp. 105 - 111
Article Type: Research paper
Publisher: North American Business Press
Abstract:
In 2008 a financial crisis was sparked by a sudden rise in delinquencies of the US subprime mortgages
which cut their market value and threatened financial institutions around the world. Drastic US
discretionary fiscal and monetary policy measures were adopted to stabilize the financial sector and
provide fiscal stimulus. Absent significant policy changes, the US national debt is projected to rise
sharply. Political disputes over the merits of tax reform or spending reform have led to a policy
showdown. At risk is the role of the US dollar as a reserve currency and the inability to fund government
through borrowing. In 2008 a financial crises was sparked by sudden rise in delinquencies of the US
subprime mortgages which cut their market value and threatened financial institutions around the world.
Drastic US discretionary fiscal and monetary policy measures were adopted to stabilize the financial
sector and provide fiscal stimulus. Absent significant policy changes, the US national debt is projected to
rise sharply. Political disputes over the merits of tax reform or spending reform have led to a policy
showdown. At risk is the role of the US dollar as a reserve currency and the inability to fund government
through borrowing.
