Thursday, July 28, 2011

A Chilean Perspective

Gonzalo Lira is a Chilean analyst who has assessed the American economy and its challenges, and asserted that we are heading for hyperinflation.  But he has also assessed the issue of debt reduction and the budget deficit, and he makes a clear case as to why we won't be seeing serious debt reduction, although we might be able to kill the deficit with an enormous amount of pain.

I said in my post below that we have to seriously look at the budget categories we keep taking off the table, along with tax reform.  I suspect Mr. Lira might agree.  I doubt Congress will.

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