Building on Sand.

• Autores: Gillian Tett
• Localización: Foreign Policy, ISSN-e 1945-2276, Nº. 219, 2016, págs. 86-87
• Idioma: inglés
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• Resumen

  • The article talks about the debt crisis faced by the U.S. government, stating that the federal debt is estimated at around $19 trillion, which is larger than the country's gross domestic product. It is noted that state governments also made pension promises which lead to further financial burden. Topics include public and quasi-public bonds issued by Puerto Rico, the role of International Monetary Fund (IMF), and its rising pension liabilities. It talks about Detroit, Michigan, which has successfully restructured it debt.