February 2, 2011

Sizing Up the Nation's Debt

Veronique de Rugy

George Gibbs Chair in Political Economy

“The American family knows that there’s a difference between reaching your credit limit, and not being able to borrow more and defaulting.  The bank doesn’t really care if you stop going to restaurants, as long as you still pay your mortgage,” says de Rugy. “We have to prioritize. We have to pay the interest on the debt.”