Fighting Inflation, Ruining Economies
Harvard Business Review
JUNE 26, 2012
debt was 98% of GDP, its deficit 10% of GDP; Spanish debt was 69% of GDP, its deficit 8.5% The difference is that the United States has its own money , the dollar, while Spain operates on foreign money , the euro. To cover this deficit, Mexico had to borrow 7% of GDP a year. Why can the U.S. In 2011, U.S.
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