While Washington debates spending cuts some deny there is even a problem.

by Amanda Griffin-Johnson Desmond Lachman of the American Enterprise Institute (AEI) had an interesting article recently in AEI’s journal, The American. The article, titled “The Emerging Markets’ Century,” details how emerging economies may have a growing impact in the global market because of their comparatively strong public finances when compared to industrialized counties. He explains, “Whereas public debt levels in...

by Heather Wilhelm “Britain announced a far-reaching deficit-reduction plan Tuesday aimed at saving billions of dollars over the next five years,” reports today’sWashington Post, “becoming the latest European nation to slash spending amid increased worries about rising public-sector debt.” The austerity measures include $145 billion in cuts to public-sector spending (including a two-year freeze on...