The government is running up debt to support a popular but unsustainable welfare state.
E.U. leaders have agreed on the need to break the so-called doom loop, where states go deeply into debt to support failing banks.
This is a vicious circle in which states go so deeply into debt to support failing banks that they require bailouts or risk leaving the euro zone.
That did not happen this time, in large part because of the nature of the boom in the 2000s, which included excessive investment in houses and consumers taking on debt to support their consumption.
Really, there's more than enough to feed every child well, to treat every sick person, to educate everyone well without saddling them with hideous debt, to support the arts, to protect the environment – to produce, in short, a glorious society.
A year later Terray helped bring about the downfall of the powerful minister of foreign affairs, Étienne-François, duc de Choiseul, by demonstrating to Louis XV that the government was too heavily in debt to support Choiseul's plans for war with Great Britain.
Borrowed money allowed investors to fake "alpha", or above-market returns, says Benn Steil of the Council on Foreign Relations.The agony was compounded by the proliferation of short-term debt to support illiquid long-term assets, much of it issued beneath the regulatory radar in highly leveraged "shadow" banks, such as structured investment vehicles.
Spain's credit rating was downgraded by S&P last month on the basis that it would probably have to take on more debt to support its banks.
With housing, finance and credit creation in a funk, where will the growth come to support debt, to support jobs?
The steady rise in property values made it possible for families to go ever deeper into debt to support the consumerist lifestyle.
