October 24, 2011
The NYT discussed Defense Secretary Leon Panetta’s responsibilities and told readers that one of the issues on the table is “the financial health of a debt-ridden country.” It is not clear how the NYT made the determination that the United States is debt ridden. The financial markets seem to disagree with its assessment since they are willing to lend money to the United States at very low interest rates.
The more obvious economic problem is massive unemployment and the fact that the economy is operating far below its potential and is projected to continue to do so long into the future. If the NYT were listing the economic problems facing the country, unemployment might be the more obvious one to mention, but in any case, the sort of speculation that appears in this article is ordinarily left to opinion pages.
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