The Presidential Daily Brief


  1. Could Debt Forgiveness Be a Winner?

    Russell Brand doesn’t understand the difference between quantitative easing and bank bailouts, but his new political manifesto, “Revolution,” contains at least one idea with legs: canceling personal debts to stimulate the economy. Debtors tend to spend money and creditors save it, so money in the pockets of borrowers finds its way into the economy faster, according to noted economists like Randall Kroszner. Increased spending in lagging economies could create more jobs, but since lenders hate the idea of debt relief, it’s a hard sell for politicos.


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