Abstract

Editorials
December 31, 1990 issue

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Bad debt driving out good debt, that may well be a result of the gulf crisis, war or no war. The noncombat cost of Operation Desert Shield is currently projected at $31 billion for the 1991 fiscal year, of which the U.S. will have to kick in between $10 billion and $20 billion. With a growing recession and the rising costs of the S&L bailout, the 1991 deficit is now predicted to reach a record $253 billion. Borrowing for war will squeeze out borrowing for needed. Charging Desert Shield to Visa could also tie up resources needed to fight the recession and help the jobless.

See Also:

UNITED States -- Economic conditions; DEBT; ACCOUNTS payable; ECONOMIC forecasting; RECESSIONS; UNITED States
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