Tuesday, January 12, 2010

High U.S. debt means slower growth, history shows

Subject: txt mny -
WASHINGTON — A new report that reviewed 200 years of economic data from 44 nations has reached an ominous conclusion for the world's largest economy: Almost without exception, countries that are as highly indebted as the United States is today grow at sub-par rates.

The report, "Growth in a Time of Debt," was written by two respected academic researchers who recently published a thick book on eight centuries of economic crises.



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