Management of the Federal Debt

Management of the Federal Debt

Management of the Federal Debt

Management of the Federal Debt

Excerpt

This volume was originally undertaken for two reasons. First, the prodigous increase in the federal debt during the Second World War has given debt management a new and tremendously important place in the economy. Second, a regrettably wide gap has appeared to separate the thinking of many persons in the financial world regarding this subject and the suggestions offered by professional economists. It was hoped that a volume of this type might focus attention upon some of the critical issues in this area and thereby perhaps reduce the spread of opinion among persons concerned with these problems, even though the book does not deal with all aspects of the subject. Financial matters lie very close to the center of the modern economy, and, during the next decade or more, federal debt management will be at the heart of many fiscal and financial questions.

At the time the studies underlying this analysis were initiated, early in 1945, relatively few persons were devoting as much attention to problems of debt management as the . . .

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