Defusing the debt bomb

JANUARY 4, 2016 | by David Walker | THE WASHINGTON TIMES

The weeks before Christmas were busy in Washington, D.C. The Federal Reserve raised its benchmark interest rate by 25 basis points on Dec. 16. It was the first Fed rate hike since 2006 and, according to Federal Reserve Chair Janet Yellen, may be the first of what is likely to be a number of modest interest rate hikes over time. The real questions are how much, over what period, and with what consequences?