Asset values have recovered and a higher savings rate has allowed US households to reduce their outstanding debt burden.
Greece's outstanding debt burden is around €300 billion, compared with more than €2 trillion for the likes of Italy and France.
Japan's outstanding debt burden is the highest in the world at ¥1 quadrillion, or $10 trillion — more than twice the size of its economy.
To regain competitiveness, they need massive deflation; but that deflation, in addition to involving an extended period of very high unemployment, worsens the real burden of their outstanding debt.
Of course, our main problems of recent decades -- and their solutions -- are still outstanding: reduction of bureaucracy and regulatory burden, speeding up justice procedures, combatting tax evasion and corruption, instituting stable taxation etc.
But if the plan works as it is, then a large portion of that outstanding student-loan debt won't be a burden on borrowers.
Her focus on the burden posed by over $1 trillion in outstanding student loans illuminated an impediment to household formation that a vital economy needs.
In a story published as he began his Roslyn career, Dr. Tassone said his goal would be to maintain the "outstanding quality of education in Roslyn without increasing the tax burden to the school community".
"We want to maintain today's outstanding level of aviation safety without placing an undue regulatory burden on an emerging industry".
But acquiring Kesler clearly has made the Ducks a more formidable team and has taken a large burden off Ryan Getzlaf, who has responded with an outstanding season.
