The Dollar and the Deficits: How Washington Can Prevent the Next Crisis
Bergsten, Fred
Foreign Affairs, November/December 2009, v88, #6, pp20-29
"Even as efforts to recover from the current crisis go forward, the United States should launch new policies to avoid large external deficits, balance the budget, and adapt to a global currency system less centered on the dollar. Although it will take a number of years to fully implement these measures, they should be initiated promptly both to bolster confidence in the recovery and to build the foundation for a sustainable US economy over the long haul. This is not just an economic imperative but a foreign policy and national security one as well."
C. Fred Bergsten is Director of the Peter G. Peterson Institute for International Economics.
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B11/01-10 Posted January 28, 2010
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