Economist Greg Mankiw Offers A Chilling Look At 2026, When The Full Faith And Credit Of The US Is No Longer Enough
- Created: Sunday, 27 March 2011 19:31
Using a simple literary device -- putting readers in the middle of the financial crisis of 2026 -- Mankiw shows us what will happen if the US fails to get its debt under control.
"If only we had faced up to this problem a generation ago," the make-believe President tells the nation. "Americans would have come to rely less on government and more on themselves, and so would be better prepared today."