The economic policies of a rogue nation are threatening the financial stability of the world. So says the International Monetary Fund, an organization not easily given to overstated warnings. But it is not some far away currency crisis in Latin America, that is causing distress for the financial wizards of the IMF, it is the current economic policy of the United States.
With its rising budget deficits and its burgeoning trade imbalance, the U.S. debt is swelling to unmanageable proportions and threatening to upset global financial stability. So says the IMF and so says Robert Rubin, President Clinton's former Treasury Secretary. We'll talk with the man who slew the deficit, about the economic balance sheet of the Bush Administration, and America's financial future.
Robert Rubin, former U.S. Treasury Secretary from 1995-1999, currently Director of Citigroup and author of "In An Uncertain World: Tough Choices from Wall Street to Washington"
Elizabeth Becker, New York Times Trade Correspondent.
Robert Rubin tells how soon people can tell when an economy is facing a downturn. listen
Robert Rubin feels that short term stimulus is appropriate, with temporary tax cuts. listen
