If you’ve been to Europe lately, you know that the U.S. dollar doesn’t buy as many baguettes as it once did. But the gradual decline of U.S. economic supremacy is harder to calculate. Some economists see the currency’s dive as a sign that America’s borrowing and spending spree is beginning to compromise its economic future. Consumers — following the lead of the administration — are carrying a hefty load of debt with very little savings. The optimists say that as long as the economy continues to grow, all will be well. But a growing chorus of critics warns that there’s a price to pay for all those unpaid bills.
Guests:
Rebecca Patterson, Currency Strategist at J.P. Morgan.
David Walker, Comptroller General of the United States.
Richard Freeman, Herbert Ascherman Chair in Economics at Harvard University and Director of the Labor Studies Program at the National Bureau of Economic Research.