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The $13 Trillion Question
Managing the U.S. Government's Debt
Editors:
Publisher:
2015
Summary
The underexamined art and science of managing the federal government's huge debt.
Everyone talks about the size of the U.S. national debt, now at $13 trillion and climbing, but few talk about how the U.S. Treasury does the borrowingeven though it is one of the world's largest borrowers. Everyone from bond traders to the home-buying public is affected by the Treasury's decisions about whether to borrow short or long term and what types of bonds to sell to investors.
What is the best way for the Treasury to finance the government's huge debt? Harvard's Robin Greenwood, Sam Hanson, Joshua Rudolph, and Larry Summers argue that the Treasury could save taxpayers money and help the economy by borrowing more short term and less long term. They also argue that the Treasury and the Federal Reserve made a huge mistake in recent years by rowing in opposite directions: while the Fed was buying long-term bonds to push investors into other assets, the Treasury was doing the oppositeselling investors more long-term bonds.
This book includes responses from a variety of public and private sector experts on how the Treasury does its borrowing, some of whom have criticized the way the Treasury has been managing its borrowing.
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Bibliographic data
Copyright year
2015
ISBN-Print
978-0-8157-2706-4
ISBN-Online
978-0-8157-2707-1
Publisher
Rowman & Littlefield, Lanham
Language
English
Pages
1
Product type
Edited Book
Table of contents
ChapterPages
Table of Contents No access
Acknowledgments No access
Preface No access
The Optimal Maturity of Government Debt No access Pages 1 - 42
Debt Management Conflicts Between the U.S. Treasury and the Federal Reserve No access Pages 43 - 90
A New Structure for U.S. Federal Debt No access Pages 91 - 146
