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Debt's Diminishing Returns
Alan Tonelson
Thursday, December 27, 2012
Photo of Alan Tonelson
New U.S. growth produced by every dollar of borrowing, 1960s:  59 cents

New U.S. growth produced by every dollar of borrowing, 2000-2010:  18 cents


(Source: “Chilling economic report strikes fear into CEOs,” by Kamal Ahmed, The Telegraph, December 22, 2012, http://www.telegraph.co.uk/finance/comment/9763112/Chilling-economic-report-strikes-fear-into-CEOs.html)

Alan Tonelson is a Research Fellow at the U.S. Business & Industry Educational Foundation and the author of The Race to the Bottom: Why a Worldwide Worker Surplus and Uncontrolled Free Trade are Sinking American Living Standards (Westview Press).
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