Jan. 3 (Bloomberg) -- Governments of the world's leading economies have
more than $7.6 trillion of debt maturing this year, with most facing a
rise in borrowing costs. The amount needing to be refinanced increases
to more than $8 trillion when interest payments are included.
Linda Yueh reports on Bloomberg Television's "First Look" with
Caroline Hyde. (Source: Bloomberg)
How will they fund this debt when tax receipts will account for less than 40 percent of the current budgets - to say nothing of this gigantic accrued debt?
Gee, if they can't tax the money, what else could they do? Hmm. Can you think of anything?