Federal Debt

John Taylor posts a very scary chart of the forecast of federal debt as a percentage of GDP from the CBO.

3 responses to “Federal Debt

  1. I have John B Taylor’s book on Macroeconomics and regretably I find it full of poor information, even some of it being wrong. When I wrote to the publishers about it there was no reply, so I know I was right and a later edition of the book was changed in that particular chapter.

    I think that the fright you got from the curves was contrived by John because such big rates of change are not likely and he simply “guestimated” them so as to draw your attention.

    I would like to share with you and John a true logical theoretical model and method of REALLY understanding what goes on in Macroeconomics. But I fear that every cook prefers to use his own recipee.

  2. “The debt is like a cancer,” Democrat Erskine Bowles told the governors. “It is going to destroy the country from within.”

  3. What nonsense Taylor is selling. If anyone wants to see the empirical truth about the government debt they can look at my article entitled “Making Dollars and Sense Out of the US Government Debt” published in the Summer 2010 issue of the JOURNAL OF POST KEYNESIAN ECONOMICS.
    It is also posted on my wb page which is http://www.econ.bus.utk,edu/davidson/html.

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