Top Economists Told Obama that Economic Recovery Required a Reduction In Private Debt

Top Economists Told Obama that Economic Recovery Required a Reduction In Private Debt

from Washington's Blog by WashingtonsBlog

But Obama and His Economic Team Chose the Big Banks Instead

We’ve extensively documented that too much private household debt is killing our economy.
While Ben Bernanke and other economists who are running our economic policy literally believe that the amount of private debt doesn’t matter and isn’t even important to quantify, economists at the “central banks’ central bank” – the Bank of International Settlements – and many other leading economists say that  high levels of private debt create a tremendous drag on the economy.
And Obama can’t plead ignorance.http://www.washingtonsblog.com/2012/11/top-economists-told-obama-that-economic-recovery-required-a-reduction-in-private-debt.html