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WHEN is a debt not a debt?
In reality, it was not a debt obligation at all.
America's real crisis is not a debt crisis.
OK, first of all, the fiscal cliff is NOT A DEBT PROBLEM.
Well, not a debt crisis: the UK has what the IMF calls "fiscal space".
But failure to avoid the automatic tax increases and spending cuts would give the United States an austerity crisis, not a debt crisis.
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"It's a policy problem, not a debt-management problem," she said.
He pointed to strong recent growth in business investment, and stressed: "This is not a debt-fuelled consumer recovery … households are consuming out of income".
"I certainly don't envisage the potential for anything approaching the destructive nature of the collapse in the U.S. real estate market," Mr. Bedford said, "simply because, if there is a bubble here, it is not a debt-financed real estate bubble".
If a promise to pay someone money in the future isn't a debt, what is it?
They believe that it will probably continue meeting its obligations, but even if it can't, a debt workout will just pay them back on somewhat different terms.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com