Debts, Deficits, and Economic Growth: How Misunderstanding of Economic Policy Holds Back Living Standards for Both High-Income and Developing Countries

Mark Weisbrot, co-director of the Center for Economic and Policy Research and a University of Illinois undergraduate alumnus, argued that the U.S. has no real short- or long-run debt problem apart from health care costs, that eurozone austerity under the ECB/EU/IMF "troika" has imposed avoidable suffering on Greece and Spain, and that Latin American governments and Argentina's 2001 default show alternatives. Spring 2012 series "Creative Approaches to Global Development." About 25 minutes of audience Q&A followed, covering Germany's role, U.S. health costs, the World Bank presidency, and public pensions.