“Debt: The Big Hangover Has Only Just Begun” (BusinessWeek)

February 22, 2010

In his recent BusinessWeek column, Mr. Aquila discussed the current economic landscape in the United States, focusing on how the overall level of U.S. debt is a fundamental factor in the country’s financial recovery. He pointed out that high debt at the individual, corporate and government levels was one of the major causes of the financial crisis. “[T]he solution to too much debt has been even more debt,” he wrote, noting that this pattern resulted in government-funded economic stimulus packages for financial institutions and other corporations. Mr. Aquila said that even if the economy begins to grow slowly, “the global economy will take several years to fully recover.”